Turkey's Cukurova Holding is in talks to buy 29.9 percent of Kuwaiti telecom Zain for $7.89 billion (ZAIN.KW), CNBC Arabiya reported, just days ahead of a deadline for Etisalat's [ETEL.AD] $12 billion bid.
Cukurova has offered 1.72 dinars per share, or 2.22 billion dinars, for the stake, CNBC said. The group controls Turkcell (TCELL.IS), which earlier in 2010 was reported to be interested in Zain, but later denied any interest.
The report follows a visit to Kuwait this week by Turkish Prime Minister Tayyip Erdogan.
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