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Wireless

Essar eyes stake in African Warid Telecom operations

Monday 20 July 2009 | 08:54 CET | News
UAE-based group of investors Dhabi Group and India-based Essar Group have agreed to enter into exclusive discussions in relation to an investment by Essar Group into the telecommunications portfolio of Dhabi Group's African assets. A statement from Essar Telecom Kenya said the transaction will involve an equity infusion into these businesses as growth capital and will be the basis of a partnership to create a significant presence in Africa. Standard Chartered Bank is acting as exclusive financial advisor to the Dhabi Group. Essar has significant interests in telecommunications services,

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Categories: Mobile & Wireless
Companies: Dhabi Group / Essar Group / Warid Telecom
Countries: Africa
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