The board of governors of Zain Telecom has approved the $9 billion deal, which asks for the selling of its asset to Bharti Airtel. This was revealed by sources close to the developments, on Wednesday.

Meanwhile, the sources also said that the requisite due-diligence of the project has also been done. And as soon as the approvals are done the required documents will be signed.

No comment was made by the Kuwaiti company about this.

The acquisition will help the Indian telecom company to enter into the African market which is emerging as a strong source in the field of telecom.

Bharti had said just a few days ago that the company has made all the arrangements to finance the deal. It said that it would pay Zain $9 billion in cash. This will have $700 million which would be paid in a year's time after the deal is closed.

While Bharti is seeing this deal as the means to enter into the African market, Zain is happy from the price, which many believe, is higher than value of the company.

Bharti will also assume $1.7 billion as the debt on Zian's books.