BizNomic

In a deal valued roughly at $10.7 billion, India’s largest mobile phone company (by subscribers), Bharti Airtel, today offered to buy the African operations of Zain, a Kuwaiti telecommunications company.

Zain currently has more than 40 million subscribers in Africa, about 62 percent of its client base. More than half of its $7.2 billion annual sales in 2008 came from Africa. Its shares have gone up nearly 23 percent last week, giving it a value of 4.64 billion Kuwaiti dinars (16 billion dollars).

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