Kuwaiti mobile operator Zain said on Wednesday it aims to list its Iraqi unit by the end of the first quarter next year pending receipt of regulatory approvals.
Zain Iraq, along with rival operators Asiacell - a unit of Qatar Telecom (Qtel) - and France Telecom affiliate Korek must sell a quarter of their shares to investors via an Initial Public Offering (IPO) to meet the conditions for their mobile phone licenses in Iraq.
The operators have already missed a deadline of August 2011 for the IPOs and been fined for doing so.
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