Oba Otudeko becomes Chairman of Zain Nigeria - [ 10/06/2010 ]

STATEMENT BY BROAD COMMUNICATIONS LIMITED ON THE ACQUISITION OF ZAIN AFRICA BY BHARTI AIRTEL

Further to the announcement by Bharti Airtel that it has successfully completed the acquisition of Zain Africa, we are pleased to welcome Bharti Airtel as our new partner in Nigeria. We have been consistent in our desire to create the world class enterprise that was the vision of the founders of this business and to protect the investment of shareholders of the company, and in this regard we are pleased with the resolution we have found with Bharti Airtel towards resolving outstanding disputes. We recognise the leadership that Bharti Airtel has established in the telecommunications space and the significant growth they have achieved in other markets within a short space of time, and we are looking forward to working with them to grow this business in line with the vision of its founders and for the benefit of Nigeria and its people. Mr Oba Otudeko, Chairman of Broad Communications said “I welcome the added responsibility of chairing the Board of the Company and I am confident that, working together with Bharti Airtel and leveraging on our collective strengths, we will deliver a bright and rewarding future for the company’s stakeholders”. Broad Communications is a member of the Honeywell Group.