Bahrain Telecommunications BTEL.BH will proceed with its joint $950 million cash bid for a stake in Zain's Saudi unit despite the end of the Kuwaiti firm's $12 billion deal with Etisalat ETEL.AD, Batelco's chief executive said on Saturday.
Batelco teamed up with Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding 4280.SE to bid for Zain's 25 percent stake in Zain Saudi Arabia 7030.SE [ID:nLDE72F056]
"We were not buying Zain, we were buying a stake in Zain KSA and we are still interested in that," Batelco CEO Peter Kaliaropoulos told Reuters from Riyadh. "Now the question is will Zain still sell it. But we will proceed."
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