Etisalat eyes bid for Gulf rival Zain

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Emirates Telecommunications Corp (Etisalat) is interested in buying a 51 percent stake in Kuwait's Zain Group at the right price, the chief executive of its international unit said on Tuesday.

"We are interested in Zain as a whole, given the right values," Jamal al-Jarwan told Reuters in a telephone interview. "We're looking at a 51 percent stake in Zain," he added.

Etisalat, which operates in 18 countries, including Egypt and India, is one of a number of Gulf Arab telecom operators that have expanded overseas after losing their monopolies at home.