The country's largest telco Bharti Airtel on Sunday said it has tied up USD 8.3 billion from a clutch of foreign banks and State Bank of India to fund the acquisition of Zain telecom's African assets. The company said in a statement today that Financing was oversubscribed, with major international banks committing to underwrite the total amount. Bharti Airtel and Kuwait's Zain are into exclusive discussions until March 25, for the acquisition of Zain's African unit, based on an enterprise value of 10.7 billion dollars.
News On AIR | March 21, 2010 6:51 PM
Bharti Airtel ties up $8.3bn finance for Zain deal