{"id":447089,"date":"2011-06-24T11:40:28","date_gmt":"2011-06-24T11:40:28","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/24\/zain-receives-final-payment-of-700m-from-bharti-airtel-for-africa-assets-sale\/"},"modified":"2011-06-24T11:40:28","modified_gmt":"2011-06-24T11:40:28","slug":"zain-receives-final-payment-of-700m-from-bharti-airtel-for-africa-assets-sale","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/24\/zain-receives-final-payment-of-700m-from-bharti-airtel-for-africa-assets-sale\/","title":{"rendered":"Zain receives final payment of $700m from Bharti Airtel for Africa assets sale"},"content":{"rendered":"
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You Are Here: Home<\/a> \u00bb Africa\/International<\/a>, ICT<\/a> \u00bb Zain receives final payment of $700m from Bharti Airtel for Africa assets sale<\/p>\n

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Page last updated at Friday, June 24, 2011 11:11 AM \/\/ <\/span><\/div>\n

\"\"<\/a>Kuwait-based telecoms company, Zain says it has received the final payment of $700 million from Bharti Airtel of India for the sale of its African assets.<\/p>\n

Bharti Airtel bought the assets of Zain in Africa for a record sum of $10.7 billion in June 2010. The World Bank described the deal as one of the largest global acquisitions of that year.<\/p>\n

Zain says in a statement that it has informed the Kuwait Stock Exchange that it has received the final payment of $700 million from the sale of its African assets.<\/p>\n

\u201cWith reference to the June 8, 2010 sale of Zain\u2019s African assets (with the exception of Morocco and Sudan), and specifically to the deferred installment of\u00a0 $700 million, we would like to inform you that the company has received this amount, in accordance with the agreement of the transaction, in which the sum was to be paid one year after the transaction, conditional on the completion of both the final approvals and of the sale and transfer of property,\u201d the statement said.<\/p>\n

According to Zain, the funds will further strengthen the company\u2019s financial position, adding that, \u201calthough it must be noted that the amount was calculated as profits in the financial statements of the second quarter of 2010, and therefore will not have any effect on the financial statements for the current quarter of 2011.\u201d<\/p>\n

By Emmanuel K. Dogbevi<\/p>\n

Comments<\/h4>\n<\/div>\n

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\nZain receives final payment of $700m from Bharti Airtel for Africa assets sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

You Are Here: Home \u00bb Africa\/International , ICT \u00bb Zain receives final payment of $700m from Bharti Airtel for Africa assets sale Page last updated at Friday, June 24, 2011 11:11 AM \/\/ Kuwait-based telecoms company, Zain says it has received the final payment of $700 million from Bharti Airtel of India for the sale of its African assets. Bharti Airtel bought the assets of Zain in Africa for a record sum of $10.7 billion in June 2010<\/p>\n","protected":false},"author":0,"featured_media":411729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-447089","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"\nZain receives final payment of $700m from Bharti Airtel for Africa assets sale - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/06\/24\/zain-receives-final-payment-of-700m-from-bharti-airtel-for-africa-assets-sale\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Zain receives final payment of $700m from Bharti Airtel for Africa assets sale - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"You Are Here: Home \u00bb Africa\/International , ICT \u00bb Zain receives final payment of $700m from Bharti Airtel for Africa assets sale Page last updated at Friday, June 24, 2011 11:11 AM \/\/ Kuwait-based telecoms company, Zain says it has received the final payment of $700 million from Bharti Airtel of India for the sale of its African assets. 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