Zain Africa not for sale?

The news of the proposed sale of Zain has been around for a while. However, the CEO of Zain’s African operations claims that Zain Africa is not for sale.

Sounds odd. Zain Africa is not an autonomous unit apart from the global Zain operations. If Zain global is selling, surely wouldn’t this affect Zain Africa? But the CEO seems to know this. Hear him:

Zain Africa isn’t for sale. We are focused on our objective of becoming a top-10 mobile player globally by 2011. There is absolutely no lack of focus in Africa. There is always great appetite for expansion…

Whether shareholders decide to sell is entirely up to them. Shareholder matters are outside the scope of my responsibility.

Ahem. Looks like Zain Africa is up for sale. The last time we checked, that’s what the shareholders said.

Sources: The Punch newspaper; All Africa


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