Wednesday, February 17, 2010

From Z to A

Bharti Airtel has entered in exclusive negotiations with Zain to acquire Zain's African unit (previously known as Celtel). This is Bharti Airtel's third attempt to enter the African market, after two previous unsuccessful attempts to acquire MTN. The sale price is in the region of US$ 10.7 billion. MTC of Kuwait (the precursor of Zain) acquired Celtel for US$ 3.4 billion in 2005.

The lesson here is about works in Africa. Free markets work. Free hands work. Free minds work.

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