Sunday 6 September 2009

Asian investors eye big Zain stake

Zain GroupImage via Wikipedia

A group of Asian investors that is in the final stages of buying a 46 percent stake in Kuwaiti telecom firm Zain has offered 2 dinars ($6.96) a share, Al- Arabiya television reported on Sunday.

Al-Arabia did not give a source for the information.

When asked to confirm whether shareholders were in talks to sell a stake in Zain, Chief Executive Officer Saad al Barrak said "Yes."

Zain shares closed up 5.41 percent at 1.56 dinars on Sunday.END

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