Kingdom and Bahrain Telecom "concluded that the terms and conditions as set out in its non-binding offer could not be met to its satisfaction,’’ they said in separate statements today. “This follows a period of due diligence and discussions with Zain Group and other stakeholders.”
Kingdom and Bahrain Telecom, known as Batelco, had agreed in principle to pay $950 million in cash for the stake in Zain Saudi, controlled by Kuwait’s Zain Group. In addition, Zain Saudi would have paid $250 million of debt to Zain Group after the transfer of ownership, Zain Group said on March 16.
No comments:
Post a Comment