Sep 29 2011 |
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Zain Group and Consortium of Batelco & Kingdom Holdings end discussions and negotiations regarding sale of Zain KSA
Kuwait: Mobile Telecommunications Company KSC (" Zain Group") announced today that both Zain Group and the Consortium, composed of Bahrain Telecommunications Company (" Batelco ") and Kingdom Holdings Company ("KHC"), have agreed to end discussions and negotiations relative to the potential sale of Zain Group's 25% equity stake in Mobile Telecommunications Company Saudi Arabia (" Zain KSA ").Zain Group, acting in the best interest of its shareholders, looks forward to assisting Zain KSA in the development of the latter's mobile telecommunications business in the Kingdom in the future.
-Ends-
About Zain
Zain
is a leading telecommunications operator across the Middle East providing mobile voice and data services to over 39.6 million active customers as of 30 June 2011. With a commercial presence in 7 countries,
Zain
operates in the following countries: Bahrain, Iraq, Jordan, Kuwait, Saudi Arabia, and Sudan. In Lebanon, the company manages 'mtc-touch' on behalf of the government. In Morocco,
Zain
has a 15.5% stake in Wana Telecom, now branded 'INWI', through a joint venture.
Zain
is listed on the Kuwait Stock Exchange (stock ticker: ZAIN). For more, please email info@zain.com or visit: www.zain.com
© Press Release 2011
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