Zain
From Taighde
Zain {formerly MTC} is a telecommunications company based in Kuwait. It currently operates in 22 countries. The company was formed in 1983 when it was named Kuwait Mobile Telecommunications Co. The Kuwait Investment Authority owns 24.6% stake in the company. The KIA has held the stake since 1983. Etisalat, controlled by the Emirates Investment Authority, has attempted to take a controlling stake of the company.[1] Etisalat started their attempt to takeover the company in November 2010.
Zain Africa
Zain Africa is a unit of Zain. It has mobile operations in 15 African countries.
Bharti Airtel. an Indian telecom company, is interested in acquiring Zain Africa. Zain's board of directors approved of this takeover on February 14, 2010. Bharti will undertake due diligence and has until the end of March to make a final offer. Bharti has offered $10.7 billion for the assets. According to press accounts, Bharti will pay $10 billion in mid-April for the unit. The remaining $700 million will come before the end of the year. The assets which include Zain Africa, do not include Sudan and Morocco. Bharti launched this bid in early February.
