Bharti Airtel has signed a deal with Kuwait’s Zain Group to acquire the latter’s African operations (except those in Morocco and Sudan).

Bharti Airtel has signed a deal with Kuwait’s Zain Group to acquire the latter’s African operations (except those in Morocco and Sudan). The $10.7 billion deal, including Zain’s debt of $1.7 billion, has been signed in Amsterdam. Bharti willpay $8.3 billion upfront once the regulatory approvals are in place. It has already secured this amount in the form of a $7.5 billion dollar loan and a $1 billion rupee loan from a consortium of Indian and international banks. The remaining $700 million will be transferred after a year.