Kharafi Group's brokerage unit stands to earn more than Dh1 billion (US$272 million) in commission if Etisalat succeeds in its bid to buy a stake in its Kuwaiti rival Zain.
Kharafi owns 12.4 per cent of Zain and is being targeted by Etisalat as it pursues of a 46 per cent stake in the operator in a deal worth Dh44.1bn or 1.70 dinars a share.
Nasser al Kharafi, the billionaire chairman of Kharafi Group, confirmed that the National Investments Company, a brokerage in Kuwait, would receive 50 fils per share in the deal for its "role in collecting the 46 per cent ownership needed".
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