Deals
Vodacom, Bharti Said to Bid for Etisalat’s Zantel Unit
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Emirates Telecommunications Corp., the United Arab Emirates’s largest phone company by market value, received offers from Vodacom Group Ltd. and Bharti Airtel Ltd. to acquire its controlling stake in Zanzibar Telecom Ltd., according to three people with knowledge of the matter.
The Zantel unit, which is Tanzania’s largest Internet provider and is 65 percent owned by Etisalat, has a valuation of about $300 million, said one of the people, who declined to be identified because the talks are private. Dar es Salaam-based Zantel also attracted a bid from Millicom International Cellular SA, the person said.