Bharti set to buy Zain Africa
NaijaRock
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Posted by Felix Okoli on February 18, 2010 at 11:43:06:
Guess we are set to have another name change with one of the major Telecom providers in Nigeria - Zain. By now you should know the genesis of acquisitions and name changes it's related companies have gone through and the subsequent name changes.
First there was ECONET, then Celtel, then Zain and now Bharti?
If Bharti takes over the assets of Zain Africa, I'm equally expecting that Zain's operation in Africa will also witness another round of corporate name changing unless Bharti decides to retain the name or they reach a different kind of deal to keep that name. We are talking of a whooping acquisition worth more than $10 billion for the assets of Zain Africa, Ofcourse Zain will continue to operate in the Middle East where it is strongly based.
Really, I'm tired of having to update my memory of which 4 GSM companies operating in Nigeria cos till date, I sometimes mention Celtel instead of Zain, and now if Bharti comes in, with their big bucks, It is more certain that it will lead to another change of name for Zain.
Here is a brief report on the proposed take over of Zain Africa by Bharti, an Indian company,
Well, I think Bharti coming into Nigeria would be a good thing and bring lots of goodies to Zain's teeming customers. I hope internet services would not be disrupted due to the restructuring and hope they would offer good competition for the benefit of the masses. Well Bahrti, we await thy coming.
Comments:
Guess we are set to have another name change with one of the major Telecom providers in Nigeria - Zain. By now you should know the genesis of acquisitions and name changes it's related companies have gone through and the subsequent name changes.
First there was ECONET, then Celtel, then Zain and now Bharti?
If Bharti takes over the assets of Zain Africa, I'm equally expecting that Zain's operation in Africa will also witness another round of corporate name changing unless Bharti decides to retain the name or they reach a different kind of deal to keep that name. We are talking of a whooping acquisition worth more than $10 billion for the assets of Zain Africa, Ofcourse Zain will continue to operate in the Middle East where it is strongly based.
Really, I'm tired of having to update my memory of which 4 GSM companies operating in Nigeria cos till date, I sometimes mention Celtel instead of Zain, and now if Bharti comes in, with their big bucks, It is more certain that it will lead to another change of name for Zain.
Here is a brief report on the proposed take over of Zain Africa by Bharti, an Indian company,
Source:
Bharti Airtel Limited (“Bharti”) and Zain have agreed to enter into exclusive discussions until 25 March 2010 for the acquisition of Zain’s African unit (Zain Africa BV) based on an enterprise value of USD 10.7 billion. This potential transaction does not include Zain’s operations in Morocco and Sudan and remains subject to due diligence, customary regulatory approvals and signing of final transaction documentation. There can be no assurance that a transaction will be consummated. Further announcements will be made in due course.
Well, I think Bharti coming into Nigeria would be a good thing and bring lots of goodies to Zain's teeming customers. I hope internet services would not be disrupted due to the restructuring and hope they would offer good competition for the benefit of the masses. Well Bahrti, we await thy coming.
Comments:
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Re: Bharti set to buy Zain Africa
Posted by Wilfred
on February 23, 2010 at 03:33:59:
Again? When will this company stop flipping for profit. It is only giving one headache.