| From Businessweek.com: Zain, Kuwait’s biggest phone company, said it received an offer for its African assets, excluding Morocco and Sudan. India’s Bharti Airtel Ltd. made a $10.7 billion offer for the assets.The company’s board will meet to discuss the offer, Zain said in a statement to the Kuwait bourse today, without providing further details. Trading in the shares will be suspended.
Zain values the assets at about $10 billion, three people familiar with the plans said in June. Vivendi SA, owner of phone companies SFR and Maroc Telecom, said last July it halted talks with Zain about buying a majority stake in its African assets. New Delhi-based Bharti in September called off talks for a proposed $23 billion merger with South Africa’s MTN Group Ltd........................................Full Article: Source
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