
Audio By Carbonatix
Kuwait's Zain has announced that it has received the final tranche of US$700 million from Bharti Airtel as part of last year's sale of Zain's African networks to the Indian company.In a statement to the stock market in Kuwait, the company said "with reference to the June 8, 2010 sale of Zain's African assets (with the exception of Morocco and Sudan), and specifically to the deferred installment of US$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 the sale and transfer of property."Airtel acquired 15 operations from Zain in Africa, including Ghana, where Airtel is currently the fourth biggest in terms of subscriber base out of five active operators.Since coming to Ghana, Airtel has rebranded Zain to the Airtel white on red brand colours and has won a couple of prestigious awards including Telecom Marketing Campaign of The Year for the rebranding, Customer Care Telecom Company of The Year and Telecom CEO of the Year.Vodafone Ghana, which also has a white on red brand colours, has raised concerns about the conflicting brand colours, but Airtel insisted its brand colour combination for all of its Africa operations was white on red so it could not make Ghana a special case, adding that brand power went beyond just the colours.Story by Samuel Nii Narku Dowuona/Adom News/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
GPL 2025/26: Late Salim Adams penalty earns Medeama draw at Bechem
7 minutes -
Hearts pip Young Apostles 1-0 to end 5-game winless run
19 minutes -
Boakye Agyarko marks Easter Sunday with a call for Godly leadership ahead of nationwide campaign tour
1 hour -
Pepsi withdraws as UK festival sponsor after Kanye West backlash
1 hour -
Pope Leo calls for global leaders to choose peace in his first Easter Mass
2 hours -
Kpando MP highlights progress on road projects
2 hours -
Government secures $92m for Engineering and Agriculture University
2 hours -
Several Ghana-bound vegetable trucks detained in Nigeria
3 hours -
Black Sherif questions Wendy Shay’s absence in “Artiste of the Year” talks ahead of TGMA 2026
4 hours -
Government confirms arrival of 100 new buses to ease transport challenges
4 hours -
$600m tomato imports undermining Ghana’s economy — Chamber of Agribusiness
6 hours -
Rainstorm wreaks havoc: Faulty transformers, feeder failures leave parts of 3 regions without power
6 hours -
CUTS International calls for urgent competition law amid sachet water price hikes
6 hours -
‘I never did this advert’, AI clones hijack Ghanaian identities for profit
7 hours -
25-year-old woman battles trauma after surviving deadly Nkwanta attack
7 hours