Zain, Bharti letter of intent this week: report

Zain, Bharti letter of intent this week: report
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First Published: Sun, Feb 21 2010. 10 57 PM IST
Updated: Sun, Feb 21 2010. 10 57 PM IST
Kuwait: Zain and Bharti Airtel Ltd may sign a letter of intent by the end of this week on the sale of Zain’s African assets to Bharti, ‘Al-Rai’ reported, without saying where it got the information. The letter of intent will require Bharti to pay $10 billion (Rs45,500 crore) once the due diligence process is complete, the newspaper said. Zain and Bharti on 15 February said they were in exclusive talks under which Bharti would buy Zain’s African assets for $10.7 billion.
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First Published: Sun, Feb 21 2010. 10 57 PM IST