Bharti Extols Zain
In a quest to bond truly with Africa, Airtel has finally closed the largest ever cross-border deal and hence emerged as one of the largest mobile operators in the world. The great and prestigious Airtel has gone global with a track of 1.8 billion people.
A considerable and astonishing achievement Airtel has promised to not only maintain standards, but to improve upon set ones already. The multi-national organization on June 8, 2010 took a giant step towards becoming a global emerging market telecom operator by totaling Zain mobile operators in 15 countries across Africa for an enterprise estimation of over USD10.7 billion. With this incorporation of Zain Bharti will be one of the largest mobile operators in 18 countries with a solid customer base of over 180 million. This laudable venture will result in combined revenues of over USD 12.4 billion and EBDITA of over USD 4.7 million based on the last review reports. “We are extremely happy at this development and we sincerely wish to express our thanks and gratitude to all of the fifteen countries and India for their unwavering support to this landmark developmentâ€, the Chairman and Managing Director Mr. Sunil Bharti Mittal said.
He further explained that this will strengthen the historic Indo-Africa economic and social ties hence providing a big boost to South-South Corporations. Zain was commended for their professionalism and transparency which enhanced the closure of this important deal in record time. In his speech, the Zain Chairman Mr. Assad Al-Banwan said that the Zain Team wholeheartedly wish Bharti Airtel great success in continuing the development of telecommunications across the African Continent and believed that the African people will welcome such a reputable and committed telecom power house.
Bharti’s acquisition of Zain’s African Mobile Services operations covers 15 countries with a customer base of over 423 million. The total population base covered is over 450 million with tele-concentration of 32%. The countries in which Bharti has acquired the operations are Burkina-Faso, Chad, Congo Brazaville, Democratic Republic of Congo, Gabon, Ghana, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda and Zambia. Zain is the market leader in 10 of these 15 countries and second in 4 countries. Bharti which has been working towards its vision of extension in Africa is committed to the augmentation of telecom in the region by taking networks deep into these countries and providing affordable services that will meet the common man. Africa will get a superior brand experience and a portfolio of innovative products and services.
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