Zain of Kuwait Is in Talks With Etisalat to Sell Stake, Seyassah Reports - Bloomberg

Mobile Telecommunications Co., the Kuwaiti phone company known as Zain, is in talks with Emirates Telecommunications Corp. to sell a majority stake in Zain Group, Al-Seyassah reported, without saying where it got the information.

A Zain delegation met last week with officials at the United Arab Emirates phone company, according to the newspaper.

Zain Chief Executive Officer Nabil bin Salama said June 8 the company completed a $9 billion sale of most of its African operations to Bharti Airtel Ltd. Zain is not in talks to sell a stake, bin Salama told a news conference at the time.