Tuesday, February 23, 2010

SingTel Could Buy Into Bharti To Help Finance Zain Acquisition

Shares of Bharti Airtel might be sold to Singapore Telecommunications by the operator to partly fund its purchase of Zain’s African assets and avoid taking on too much debt.
According to SingTel, it is premature to talk about funding as the transaction is subject to ongoing discussions, due diligence and customary regulatory approvals and as a strategic investor, the company has significant governance and shareholder rights besides having involvement in key decisions, including major investments.
Bharti Airtel is in exclusive talks to buy most of the African assets of Kuwaiti telecoms firm Zain for $9 billion.

No comments: