SingTel confirms Bharti is funded for Zain buy

SingTel confirms Bharti is funded for Zain buy

Telecommunications company SingTel (ASX:SGT) has confirmed to Australian investors that its partner in India, Bharti Airtel, has secured the funding needed to acquire Zain Africa.

As well as owning 100% of Optus, SingTel also holds around 30% in Bharti Airtel.

In an announcement dated March 21, but filed to the ASX today, Bharti said it had tied up the required US$8.3 billion ($9 billion) required to purchase Zain Africa.

The funding will come from a range of sources including ANZ, HSBC, Barclays and Standard Chartered Bank.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags Mergers and acquisitionsTelecommunicationsoptussingtelBharti AirtelZain

Show Comments