Kuwait based telecom company Zain have accepted a $10.7 billion offer (around Rs 49,700 crore) from Bharti Airtel excluding Sudan and Morocco.

Zain’s Africa assets include around 70 million customers. The firm’s have presence across Africa and the Middle East.

Africa represents about 62% of Zain’s customers, shows information on the company’s website. The key shareholders in Zain are the KIA and the Kuwaiti family-owned conglomerate, the Kharafi group. The Kharafi Group, owned by one of the Middle East’s wealthiest families, holds 11% in Zain. In October 2009, Zain had halted talks to sell its African assets. ‘‘Bharti is to pay Zain $10 billion by mid-April, and the rest later in the year,’’ sources added.

Bharti Airtel had agreed to buy 70% of Bangladesh’s Warid Telecom for $300 million in the last month. Its first overseas acquisition, the move had signalled a new strategy adopted by the firm, of scaling up globally through a string of small and medium-sized acquisitions in developing economies.

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