Lex

Lex: Bharti Airtel / Zain

India’s Bharti Airtel is set to become the fifth-biggest mobile carrier, spanning an area with almost a third of the world’s population, after it signed a deal on Tuesday night to take over the African networks of Zain of Kuwait. The deal, which puts an enterprise value of $10.7bn on Zain’s African assets, is India’s second-largest overseas acquisition and first significant offshore expansion by one of the country’s telecoms operators. Sarah O'Connor analyses the deal.