Zain finalises sale of African units

09 June 2010

Kuwait's Zain has said the sale of its African assets to India's Bharti Airtel has been concluded. The firm has received $7.868bn of cash proceeds from Bharti. Over the next six months Zain will receive up to an additional $400m upon certain milestones being achieved, with the balance of $700m due one year from completion as per the original agreements.

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