Bharti Airtel Ltd said it completed the acquisition of Zain Group’s mobile operations in 15 countries across Africa for an enterprise valuation of $10.7 billion (about Rs 48,000 crore).
On 30th March, Bharti had entered the deal to acquire Zain Telecom's operations in 15 nations, excluding Sudan and Morocco. Zain has operations in 17 African countries. With this acquisition, Bharti becomes a major Indian multinational company with operations in 18 countries across Asia and Africa with a customer base of over 180 million. Zain is the market leader in 10 of the 15 countries and second in four countries.
On Tuesday, Bharti Airtel's shares fell 3.8% to Rs257 on the Bombay Stock Exchange, while the benchmark Sensex ended 1% down at 16,617 points.
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