AirTel is World's 5th largest mobile phone operator|Kuwait's Zain acquired for $10.7b

India's AirTel has successfully concluded its $10.7 billion deal to acquire the African assets of Kuwait's Zain, making it the world's fifth largest mobile phone services company.

The transaction is the largest ever cross-border deal in an emerging market and will result in combined revenues of about $13 billion. The acquired company will be renamed to "Bharti AirTel International BV". Zain's top executives will migrate to India and work out the integration.

This is also the largest overseas acquisition of assets in Africa by an Indian company, even though it does not cover the Kuwaiti company's operations in Sudan and Morocco.

With Zain Africa's 42 million customers, Bharti Airtel will have over 180 million subscribers, making it the world's fifth-largest mobile phone operator.

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