Bharti Airtel today dived into the global telecom market by completing the acquisition of Zain Group’s mobile operations in 15 countries across Africa for a total enterprise valuation of $10.7 billion.
With this acquisition Airtel has become the first Indian telecom brand to have a global presence with a footprint of 1.8 billion people. It also became a major MNC with operations in 18 countries across Asia and Africa with a customer base of 180 million users.
With the acquisition of Zain Group, Airtel has:
- Completed the largest ever cross- border deal in emerging markets.
- Entered a league of five largest mobile operators in the world.
- Became a leading Indian MNC with operations in 18 countries with a footprint covering 1.8 billion people
- Reiterated commitment to Africa and promises affordable services, deeper coverage and superior brand experience.
Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti said, We are delighted at the closure of this transformational deal for India and Bharti. We would like to express our deep gratitude and thank the governments of all the fifteen countries as well as the government of India for their overwhelming support to this landmark event. This will further strengthen the historic Indo-Africa economic & social ties and provide a big boost to South-South cooperation."
Mr. Asaad Al-Banwan, Chairman, Zain, said We wholeheartedly wish Bharti Airtel great success in continuing the development of telecommunications across the African continent, and we are confident that the people of Africa will welcome such a committed and reputable telecom powerhouse.
Airtel has no doubt been the biggest player in the Indian market, and with this acquisition they will also take over mobile service operations in 15 countries with a total customer base of over 42 million.
India is always seen as a emerging market for the telecom industry, however, with over 450 million telecom penetration, Africa also give Airtel a good chance to increase their user base.
For more information and details about the Airtel and Zain Group deal, visit this press release.