Kuwaiti telecommunications provider Zain said Monday its board agreed to enter into exclusive
talks until March 25 with Bharti, India’s largest cellphone
operator.
Zain said a day earlier it had received a bid for the African division from an unnamed suitor, but did not name the price or respond to unsourced reports that a deal had been reached. The sale does not include Zain’s holdings in Sudan or Morocco.
Zain says the deal is subject to due diligence and regulatory approval. — Sapa-AP
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