(Note: we were updating live, and this story has since been rewritten for improved coherence) At 12:30 pm today, Zain Africa became a 100% subsidiary of Bharti Enterprises, Sunil Bharti Mittal said, addressing a press meet in Delhi today. This indicates that Bharti Airtel has received all regulatory approvals. Zain brings with it, 42 million customers, $3.6Bn revenue, $1.2B EBITDA. The combined entities will have approximately 180 million customers, $12.4 billion in combined revenues, and $4.7 billion in EBIDTA. This makes Bharti Airtel one of the five largest mobile operators in the world, at 180 million customers, close to America Movil and Telefonica. Speaking at the press meet, Mittal said that they also hope the vendors will follow them to Africa, including tower companies, equipment suppliers, air conditioning companies, Value Added Services Companies are going to flock to Africa now. He also added that this deal is the largest deal ever across sectors in emerging markets, and it puts forth the notion that the developing world can do multi million dollar deals and not just the mandate of developed markets. Manoj Kohli will lead the Airtel saga in Africa, operating out of Nairobi. Airtel raised $8 Billion in financing for this deal, Akhil Gupta, Deputy Group CEO and Managing Director of Bharti Enterprises and a Director of Bharti Airtel Limited said. Africa Plans Speaking at the press meet, Manoj Kohli, CEO (International) & Joint MD, Bharti Airtel said that he has set the following "personal" targets for the companys Africa…
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