Bharti opening offer for 22 pc

Bharti opening offer for 22 pcBharti Airtel shall craft unbolt propose to procure the balance 22 per cent chance in Zambia's important telecom entity, Zain Zambia.

Bharti Airtel flagged by Sunil Mittal grabbed by the African ventures of Kuwait-based Zain in a $10.7 billion-transaction that had concluded in the month of June. As part of the transaction, the firm bought Zain's operations in 15 countries, including Zambia.

Bharti Airtel has by now grabbed a 78 per cent stake in Zain Zambia.

As per the sources, ever since the group has been listed on the Lusaka Stock Exchange, the Indian group shall be necessary to craft an open proffer to Zain Zambia's shareholders for the balance 22 per cent stake.

Once getting in touch with Bharti Airtel spokesperson expressed that the occasion of the open tender might be determined only after taking the essential watchdog’s consent from the pertinent authorities in Zambia.

In the previous month, Bharti Airtel CEO Manoj Kohli expressed the group might work with Zambia's government to stretch telecom services to all edges of the nation.