Abu Dhabi Investment Authority has taken a 2.14 percent stake in Mobile Telecommunications of Saudi Arabia, known as Zain Saudi (ZAINKSA), Argaam reported, citing a prospectus on the restructuring of the company’s capital.
The shares were transferred last month to ADIA, one of the world’s biggest sovereign wealth funds, from Rakisa Holding based on a ruling by the general public complaints office, the news portal said. ADIA’s stake is equivalent to 30 million shares, the newspaper said.
ADIA spokesman Erik Portanger declined to comment and Kuwait-based Zain Group said it had no comment on the report when contacted by Bloomberg News today.
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