Bharti Airtel Zain Acquisition
Bharti airtel – zain acquisition
Umesh
Word count: 3437 words
Bharti airtel – zain acquisition
Umesh
Word count: 3437 words
Global Business
Global Business sheffield hallam university | B1051892 sheffield hallam university | B1051892
2013
2013
Bharti Airtel-Zain Africa Deal
Background of the Acquirer (Bharti Airtel) and Acquiree (Zain Africa)
After a prolonged wait, finally, Bharti Airtel’s much awaited African Safari did start by acquiring Zain Africa. Mr Sunil Mittal and other experts believed that next telecom revolution would take place in a developing economy and that developing economy would be Africa. Bharti Airtel was determined to establish their presence in Africa and they were in negotiations with MTN Group Limited (Scaria, et al., 2010). However, after two rounds of strenuous negotiations, it did not succeed as Bharti Airtel believed that the structure presented by board of directors of MTN was completely unacceptable. But this did not stop Bharti Airtel’s ambition of moving in Africa they decided to select another Telecom African giant named Zain Africa. This time they made the offer so lucrative that Zain Africa could not deny (Mishra, et al., 2010).
Mr Sunil Bharti Mittal, MD (Managing Director) of Bharti Airtel and Mr Asaad Al, Bhanwan, Chairman, Zain Group executed this acquisition on 30th March, 2010, at Netherlands making it second largest when compared to an Indian company. Bharti Airtel offered USD 10.7 million for this acquisition (First Call India Equity, 2010).
Bharti Airtel Limited commonly known in India as Airtel, was an Indian Telecommunications services company, operating in 20 countries across South Asia, Africa and the Channel Islands. It was the world’s fourth largest mobile telecommunications company with over 261 million subscribers, as of August, 2012. It was the first Indian telecom service provider to achieve Cisco Gold certification. Mr Sunil Bharti Mittal was the Chairman and MD (Managing Director)
Umesh
Word count: 3437 words
Bharti airtel – zain acquisition
Umesh
Word count: 3437 words
Global Business
Global Business sheffield hallam university | B1051892 sheffield hallam university | B1051892
2013
2013
Bharti Airtel-Zain Africa Deal
Background of the Acquirer (Bharti Airtel) and Acquiree (Zain Africa)
After a prolonged wait, finally, Bharti Airtel’s much awaited African Safari did start by acquiring Zain Africa. Mr Sunil Mittal and other experts believed that next telecom revolution would take place in a developing economy and that developing economy would be Africa. Bharti Airtel was determined to establish their presence in Africa and they were in negotiations with MTN Group Limited (Scaria, et al., 2010). However, after two rounds of strenuous negotiations, it did not succeed as Bharti Airtel believed that the structure presented by board of directors of MTN was completely unacceptable. But this did not stop Bharti Airtel’s ambition of moving in Africa they decided to select another Telecom African giant named Zain Africa. This time they made the offer so lucrative that Zain Africa could not deny (Mishra, et al., 2010).
Mr Sunil Bharti Mittal, MD (Managing Director) of Bharti Airtel and Mr Asaad Al, Bhanwan, Chairman, Zain Group executed this acquisition on 30th March, 2010, at Netherlands making it second largest when compared to an Indian company. Bharti Airtel offered USD 10.7 million for this acquisition (First Call India Equity, 2010).
Bharti Airtel Limited commonly known in India as Airtel, was an Indian Telecommunications services company, operating in 20 countries across South Asia, Africa and the Channel Islands. It was the world’s fourth largest mobile telecommunications company with over 261 million subscribers, as of August, 2012. It was the first Indian telecom service provider to achieve Cisco Gold certification. Mr Sunil Bharti Mittal was the Chairman and MD (Managing Director)
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