The acquisition price of 1.70 Kuwaiti dinars (Dh22.16) per share that the UAE's Emirates Telecommunications Corporation, or etisalat, has offered to acquire a 46 per cent stake in Zain offers "great value" to the UAE telecoms firm's shareholders, etisalat's chairman said yesterday.
Mohammad Hassan Omran said he is confident etisalat can obtain the required funding to finance the acquisition, valued at about $11.8 billion. "We have received several attractive proposals from banks that would enable us to finance the transaction," he said in a statement to Gulf News.
Omran said his company is still in the early stages of the deal, on which the due diligence process is yet to commence. Omran said it "will take a number of weeks".
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