Emirates Telcommunications Corp (Etisalat) has offered to buy 46 percent of Kuwait's Zain, CNBC Arabiya said on Wednesday, in a deal that would be worth $11.8 billion.
Etisalat had offered 1.7 dinars per share for the stake, the Arabic language channel said. Zain shares rose to a four-month high after the report.
CNBC Arabia gave no further details and did not cite a source. It said National Bank of Kuwait was an advisor to Etisalat and BNP Paribas was advising Zain majority shareholder, Kharafi Group."
No comments:
Post a Comment