February 15, 2010 11:07 AM

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Airtel enters into exclusive talks with Kuwait's Zain Telecom

The Indian telecom operator Bharti Airtel today said it has entered into exclusive talks with Kuwait's Zain Telecom for acquiring its African operations based on an enterprise value of 10.7 billion dollars. In a statement, Bharati said that this potential transaction does not include Zain's operations in Morocco and Sudan. Bharti said the completion of the deal remains subject to due diligence, customary regulatory approvals and findings of the final transaction documentation.Bharti has operations in Sri Lanka and Bangladesh as well.

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