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Bharti seeks $8 bn in loans to fund Zain buy

Bharti seeks $8 bn in loans to fund Zain buy
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First Published: Mon, Feb 22 2010. 11 10 PM IST
Updated: Mon, Feb 22 2010. 11 10 PM IST
Mumbai/Hong Kong: Bharti Airtel Ltd plans to borrow as much as $8 billion (Rs36,960 crore) of loans to finance its proposed acquisition of the African assets of Kuwait’s Mobile Telecommunications Co., two people familiar with the plan said.
Bharti is seeking $4-5 billion in US dollar loans and $2-3 billion in rupees, the people said, asking not to be identified before an announcement. Final terms of the financing plan haven’t been set, they said.
The Indian company made the $10.7 billion offer to the Kuwaiti company, known as Zain, on 15 February. Bharti and Zain will hold talks until 25 March.
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First Published: Mon, Feb 22 2010. 11 10 PM IST