India's biggest mobile operator, Bharti Airtel, is expected to complete its $9-billion takeover of Kuwait-based Zain's African operations within the next few days following approval of the deal by Zain's board.
Zain yeterday announced that all due diligence for the deal had been successfully completed.
According to reports, Bharti will pay $9-billion in cash to Zain, including a $700-million payment one year after the close of the deal, for Zain's assets in 15 African countries.
Bharti will also absorb $1,7-billion in debts currently on Zain's books.
Bharti's shares have risen about 3% today on news of the finalisation of the deal.