Bharti enters into exclusive discussions with Zain for the acquisition of Zain Africa BV
New Delhi, February 15, 2010: Bharti Airtel Limited (“Bharti”) and Zain have agreed to enter into exclusive discussions until 25 March 2010 for the acquisition of Zain’s African unit (Zain Africa BV) based on an enterprise value of USD 10.7 billion. This potential transaction does not include Zain’s operations in Morocco and Sudan and remains subject to due diligence, customary regulatory approvals and signing of final transaction documentation. There can be no assurance that a transaction will be consummated. Further announcements will be made in due course.