Kuwait based Zain has issued a brief statement confirming that it is now finalising the details for the sale of its African assets to India's Bharti Airtel. The company's board met yesterday to review the latest developments and negotiations related to this matter.
Upon signing, the parties will move towards getting any required approvals. It has already been reported that Bharti has already secured the entire financing requirement of USD 8.3 billion for this transaction.
The sale of 'Zain Africa BV' does not include Zain's operation in Sudan or its investment in Morocco.
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