UAE incumbent Etisalat could sell Kuwaiti-owned Zain Saudi Arabia after completing the acquisition of the parent company, according to a report in Al-Qabas as cited by Reuters.
This move would be to expedite the transaction, since an formal offer for the…
UAE incumbent Etisalat could sell Kuwaiti-owned Zain Saudi Arabia after completing the acquisition of the parent company, according to a report in Al-Qabas as cited by Reuters.
This move would be to expedite the transaction, since an formal offer for the Saudi business has yet to maternialise, according to the newspaper. Etisalat would reportedly seek a six-month extension to sell off the business, in order to comply with FDI caps. Spokespeople for Etisalat and Zain were unavailable for comment by press time.
