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Kuwait Zain May Settle Celtel Africa $12B Sale This Wk -Report

Discussion in 'Habari na Hoja mchanganyiko' started by NGULI, Jun 10, 2009.

  1. NGULI

    NGULI JF-Expert Member

    Jun 10, 2009
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    Tuesday, Jun 09, 2009
    BEIRUT (Zawya Dow Jones)--Kuwait-based Mobile Telecommunications Co., or Zain GroupMobile Telecommunications Co., or Zain Group, may settle this week a deal to sell its unit Celtel Africa to a French company for up to $12 billion, Kuwait-based Al Qabas daily reports Tuesday.
    The deal is expected to be profitable to ZainZain and will inject ample cash liquidity into it, the paper reports citing people familiar with the matter. ZainZain is waiting for reply from the French company this week and if the deal isn't settled will study bids made by other companies, the people said according to the daily.
    The French company will also buy Celtel Africa's debts which will be discounted from the African telecom operator's price, the people added.
    Newspaper Web site: ????? ????? :: ?????? ????????
    -By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
  2. Radical

    Radical JF-Expert Member

    Jun 10, 2009
    Joined: Jun 3, 2009
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    That's a corporate world Nguli, one buys a chewing gum for its taste, after a while......