Bharti Airtel, Zain rumours will not go away

4 Jul 2008

Although the Indian telco Bharti Airtel has refuted suggestions it is considering acquiring Kuwaiti operator Zain, speculation in the press continues. Last month Bharti confirmed it was still looking for acquisitions and was particularly interested in the Middle East and Africa, while this week Dow Jones reported several unnamed sources claiming Bharti has been talking to Zain for the past two weeks and that both companies have instructed bankers to advise on a potential deal. Bharti group managing director Akhil Gupta said, ‘We have denied the talks. We have no further comment to make’.

Kuwait, Bharti Airtel, Zain Kuwait