Bharti Airtel-Zain aim to close proposed deal by May 2010 Bharti Airtel’s proposed deal to acquire Kuwait-based Zain Group’s African assets is likely to be closed by May 2010. Bharti is in exclusive talks with Zain till March 25, 2010 to buy a controlling stake in its African assets, valued at $10.7 billion.
The combined entity of Bharti and Zain is expected to generate revenues of $13 billion and an EBITDA of $5 billion over the 12 months after the completion of the deal. Bharti plans to fund the deal entirely through debt for about two years. The debt-averse operator intends to use a combination of free cash flow and equity to repay the medium-term debt. The company is contemplating selling stake in its passive infrastructure operations for this purpose.
