Zain, Kuwait’s biggest phone company, received a formal $10.7 billion offer from Bharti Airtel Ltd. for most of its African assets, Al-Rai reported, without saying where it got the information.
The offer, which does not include purchasing Zain’s operations in Sudan, is to be discussed soon in a Zain board meeting, the newspaper said.
Zain spokesman Ibrahim Adel declined to comment on the report when contacted by Bloomberg News today. Bharti spokesman Senjam Raj Sekhar didn’t respond to calls made to his mobile phone.
Source: Bloomberg