Qatar Telecom QTEL.QA may seek to buy Zain Saudi Arabia 7030.SE, a deal which would clear a regulatory hurdle for Emirates Telecommunications' ETEL.AD bid for parent company Zain (ZAIN.KW), Bahrain-based Sico bank said.
Emirates Telecom, known as Etisalat, confirmed on Thursday it bid 1.7 dinars a share for a 46 percent stake in Kuwait-based Zain, the Gulf Arab region's third-largest telecoms firm, valuing the stake at just under $12 billion.
Investors in Zain's Saudi affiliate reacted well to the announcement of Etisalat's bid for Zain. On their first trading day after the announcement, shares in Zain Saudi Arabia rose intraday by up to 5.7 percent on Saturday."
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