Business
Vivendi Wants Zain Africa To Expand Network
Vivendi, a Paris-based firm, has confirmed its interest in the acquisition of African Subsidiary of Zain Group in pursuance of its strategic growth plans in emerging countries.
According to the company, having Zain Africa would enable it capitalise on its successful experience of developing mobile telephone on the continent of Africa. “Vivendi confirms its interest for acquiring a majority stake in the Zain groups telecommunications activities in Africa, in line with its clearly defined strategy of seeking growth opportunities in emerging countries.”
The telecoms group confirmed its interest in a statement posted on the company’s Website where an explanation was provided for the company’s interest.
Earlier in an interview with Reuters Chief Jean Bernard Levy, Chairman Management Board, Vivendi Univer Sal Publishing, declined comment on the story simply saying, “I have no comment to make on this,” at an economic forum in southern France. The statement read in part: “This acquisition would enable Vivendi to capitalise on its successful experience of developing mobile telephony in Africa. However, at this stage there is no certainty that the discussions currently in progress will lead to a successful outcome.” Through the acquisition Vivendi hopes to take over African subsidiaries like Nigeria, Ghana, Zambia, Sierra leone, Malawi, Chad, Burkina Faso, Tanzania, Madasgacar, Kenya, Uganda, Niger, and Gabon market from Zain Group Kuwait.
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