RIYADH: Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), has commended the recent alliance between KHC and Batelco Group that is chaired by Sheikh Hamad bin Abdulla Al-Khalifa, to be the telecom operator in a revised bid to acquire 25 percent of Zain Saudi Arabia from Zain Kuwait.
Prince Alwaleed commented: "Our confidence in the leadership of Bahrain is infinite."
The prince also referred to his long established warm relationship with Bahrain in his recent interview with CNBC on March 11 and his confidence in the leadership of King Hamad bin Isa Al-Khalifa and Crown Prince Salman bin Hamad Al-Khalifa wishing Bahrain stability and prosperity.
Kingdom Holding's presence in Bahrain is through its indirect investments in the banking sector through Citigroup, and in the hotels sector through Movenpick hotel in Bahrain that is managed by Movenpick Hotels and Resorts in which KHC owns a 33.3 percent stake. In addition, the Four Seasons hotel in Bahrain will be opening soon, managed by Four Seasons Hotels and Resorts in which KHC holds a 47.5 percent stake and is co-owned by Bill Gates' Cascade in which the company also holds a 47.5 percent stake, and 5 percent of the Four Seasons' is owned by Isadore Sharp, the company's chairman.
© Arab News 2011
