Someone familiar with the matter, cited in the Economic Times publication, confirmed Bharti’s intentions about funding. However, both parties – Bharti and SingTel – denied reports, saying it’s premature to talk about funding.
On Sunday last week, the board of Kuwait-based Mobile Telecommunications Company KSC, branded Zain, finally accepted Bharti’s proposal to buy its Africa operations. The deal excludes Morocco and Sudan.
Bharti offered $10.7 billion for the African assets of Kuwaiti telecom group Zain, to enter the African telecoms market. The Indian operator had failed twice in its merging plans with South Africa’s MTN, a deal also supported by SingTel at the time.
