Bharti Airtel has officially closed its acquisition deal involving the purchase of Kuwait-based Zain’s African assets.

Bharti Airtel has officially closed its acquisition deal involving the purchase of Kuwait-based Zain’s African assets. On receiving the necessary government approvals from the 15 African nations where Zain has operations, the company has paid $7.9 billion to Zain. The largest Indian telecom service provider has also laid out its strategy for the African continent, which involves offering services and solutions across mobile phones, the internet and television. Bharti is planning to launch broadband, direct-tohome and internet protocol television services in Africa. The operator also intends to spread its network to smaller towns and rural areas, reduce tariffs and launch new products and services.
The company has set a target of achieving 100 million subscribers, revenues worth $5 billion and earnings before interest, taxes, depreciation and amortisation of $2 billion by 2012-13 by adopting a low-cost outsourcing-based business model. It is also planning to form separate tower companies in each of the 15 African nations.