Zain Up For Sale Again! - Phones - Nairaland
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| Zain Up For Sale Again! by Sevn(m): 11:54am On Jun 10, 2009 |
Kuwait-based telecom company Zain Group has announced its intentions to sell off its African mobile networks. No reason was given for why Zain is looking to sell the African division. Reports say the group is hoping to get a handsome sum of $12 billion from an unnamed French prospective buyer. It is not yet clear how the sale will affect Zain Nigeria’s operation, which this week outsourced a major part of its service operations to mobile giant Ericcson. If the French deal succeeds, the group is set for yet another name change. However, Zain spokesperson, Emeka Oparah, in a telephone interview with NEXT said: “I am not aware of the development. I only saw it as an alert from Google today, so I cannot say anything on it right now. Hopefully by tomorrow morning more information will start flowing on it.” The sale of the former Celtel’s assets is estimated to be worth up to $12 billion, including debt, reports the Dow Jones Newswire, citing the Al Qabas newspaper. Celtel was founded by Sudanese-born, Mo Ibrahim, in 1998 and sold to Kuwait’s MTC (now Zain) in April 2005 for $3.4 billion. The Zain Group is waiting for a reply from the French company this week and if the deal isn’t settled, Zain will study bids made by other companies in India and China, as the deal will inject ample cash liquidity into company. Zain Nigeria, formerly known as Celtel Nigeria, was established in 2000 as Econet Wireless, by a group of institutional and private investors as well as three state governments: Lagos, Delta, and Akwa Ibom States. Prior to its change of name to Celtel, the company was known as VMobile Nigeria owned by Vee Networks Limited. In 2006, following Celtel International’s acquisition of majority stake in the company, it was re-branded Celtel and became an important part of Celtel’s pan-African operations spanning 14 countries. Celtel Nigeria was rebranded Zain Nigeria on August 1, 2008, following the global acquisition of Celtel International by MTC Group, which transformed to Zain Group, a leading emerging markets player in the field of telecommunications, aiming to become one of the top ten mobile groups in the world by 2011. It made history on August 5, 2001 by becoming the first telecoms operator to launch commercial GSM services in Nigeria. http://nspace.nigeria.com/main/news/zain-sale-next http://www.zawya.com/story.cfm/sidZW20090609000015/Zain%20May%20Settle%20Celtel%20Africa%20$12B%20Sale%20This%20Week |
| Re: Zain Up For Sale Again! by watershed1: 12:14pm On Jun 10, 2009 |
Na wa o! Another name change on its way!!!! |
| Re: Zain Up For Sale Again! by lawyer(m): 2:08pm On Jun 10, 2009 |
This is getting really ridiculous! A company with no stability and directors willing to cash out at every given opportunity says alot about the company and its so called objectives. I really feel sorry for the subscribers of the network and the company. Its just too incoherent for my liking. Even Nitel with all its problems dont swap names,directors and modus operandi like zain or econet or V-mobile or whatever its name is again!  |
| Re: Zain Up For Sale Again! by Nezan(m): 2:11pm On Jun 10, 2009 |
na wa-o; Econet=Vmobile=Celtel=Zain=  ?MTN Globacom wat is happening ? |
| Re: Zain Up For Sale Again! by bandely(m): 2:19pm On Jun 10, 2009 |
henhen na wa o, so, wetin dem go name am this time |
| Re: Zain Up For Sale Again! by OKEYCHIVIV(m): 2:20pm On Jun 10, 2009 |
At least they can not bear MTN. |
| Re: Zain Up For Sale Again! by MissEZ(f): 2:24pm On Jun 10, 2009 |
Econet=vodafone=vmobile=celtel=zain= maybe their next name will be wazobia ventures  |
| Re: Zain Up For Sale Again! by Phlota(f): 2:30pm On Jun 10, 2009 |
abi |
| Re: Zain Up For Sale Again! by biola44: 2:45pm On Jun 10, 2009 |
Miss EZ: |
| Re: Zain Up For Sale Again! by Igwe9(m): 2:47pm On Jun 10, 2009 |
Miss EZ:That would be only when I became the proud owner.  |
| Re: Zain Up For Sale Again! by ayeesha: 2:50pm On Jun 10, 2009 |
Miss EZ: very funny |
| Re: Zain Up For Sale Again! by lojik(m): 2:56pm On Jun 10, 2009 |
We r trying to acquaint ourselves with the new name (Zain) and they want to change the name again. maybe i'll just leave their network and get a new simcard from a stable name. Rubbish. |
| Re: Zain Up For Sale Again! by emmydee(m): 2:59pm On Jun 10, 2009 |
thank Godi no longer use their network. they are simply confused. |
| Re: Zain Up For Sale Again! by Nobody: 3:06pm On Jun 10, 2009 |
ashawo company |
| Re: Zain Up For Sale Again! by hancock(m): 3:09pm On Jun 10, 2009 |
again |
| Re: Zain Up For Sale Again! by jorem(m): 3:10pm On Jun 10, 2009 |
2uu funny  |
| Re: Zain Up For Sale Again! by MissEZ(f): 3:12pm On Jun 10, 2009 |
@ Igwe, biola 44 and ayeesha, its true now, the way they keep changing their names, maybe all the tribes in naija should join money and buy it, since they usually sell to the highest bidder. Ashawo network. Igwe good luck with ur quest to own it. |
| Re: Zain Up For Sale Again! by muhsin(m): 3:13pm On Jun 10, 2009 |
More than strange! |
| Re: Zain Up For Sale Again! by koolpal(m): 3:14pm On Jun 10, 2009 |
At least they can not bear MTN. @OKEYCHIVIV ,who dash monkey banana, dem no fear fear, inconsistency is their 2nd name, God pass dem |
| Re: Zain Up For Sale Again! by lee007(m): 3:15pm On Jun 10, 2009 |
Looking at the events in the company i think it sound crazy, but wait a min. let us look at the figure it appears this is judt purely business you buy a company for $3 Billion and you sell for $12 Billion, please in these dys of economic wahala, the only issue i have is the brand impact on subsribers snd staffs, the company appears not to have made any official statement for we we will wait and see, |
| Re: Zain Up For Sale Again! by Pittbaby(f): 3:15pm On Jun 10, 2009 |
I am guessing that the purchasing companies are Private Equity and Ventire capatalists, once they get a return on their investments and grow company , the put it up for sale again |
| Re: Zain Up For Sale Again! by utotomi6(m): 3:20pm On Jun 10, 2009 |
 |
| Re: Zain Up For Sale Again! by chukz4real(m): 3:22pm On Jun 10, 2009 |
Jesus Wept! The prospective buyer should be better name its product NEPA oooooooooooooo |
| Re: Zain Up For Sale Again! by hayo(m): 3:24pm On Jun 10, 2009 |
Guys; make we begin dey contribute money o. Maybe it is time for Nigerians to buy it LOL. And start thinking of a name. But really - this is not funny at all. |
| Re: Zain Up For Sale Again! by oludashmi(f): 3:26pm On Jun 10, 2009 |
The network will have a stable name only when it start bearing my name---AMEN!! |
| Re: Zain Up For Sale Again! by Nobody: 3:27pm On Jun 10, 2009 |
this compnay is a joke. NCC for just withdraw their licence instaed allowing them to sell on the ailing company. The new prospective buyer go only do panel beater work just like Econet=vodafone=vmobile=celtel in the past |
| Re: Zain Up For Sale Again! by remoranger(m): 3:28pm On Jun 10, 2009 |
@poster Dont worry i will buy zain. Its name shall be remo and the moto shall be tatafo pays |
| Re: Zain Up For Sale Again! by oludashmi(f): 3:32pm On Jun 10, 2009 |
OMO IBO: No, Econet=Vmobile, vodafone was just a partner. |
| Re: Zain Up For Sale Again! by wanitas(f): 3:34pm On Jun 10, 2009 |
zain again, well, we go just gold arm de look, abi? |
| Re: Zain Up For Sale Again! by guysmat(m): 3:42pm On Jun 10, 2009 |
Up zain!!! Make una no worry eh. God dey  |
| Re: Zain Up For Sale Again! by rasputinn(m): 3:47pm On Jun 10, 2009 |
Going ,going, g,,, |
| Re: Zain Up For Sale Again! by Nobody: 3:47pm On Jun 10, 2009 |
oludashmi:my bad o se da da for the correction. that one na to show u say i cant keep up with the company again. |
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