Zain reveals H1 profit of $3.1bn

10 August 2010

Zain has reported a first-half profit of $3.1bn, which included $2.65bn from the sale of assets in Africa, Bloomberg has reported. Consolidated revenue in Zain's Middle East operations rose 10% from a year-earlier to $2.33bn, it said. Zain in June completed the $9bn sale of its assets in 15 African countries, excluding Morocco and Sudan, to India's Bharti Airtel. The company received $7.9bn from the sale and will receive additional payments of $1.1bn within a year of completing the deal, Zain said.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.