Zain’s Saudi Arabian unit is planning a capital increase and a debt to equity conversion in 2010.
Saad Al Barrak, the chief executive of Zain Saudi Arabia who recently resigned as CEO of the Zain Group, told a news conference that a capital increase was…
Zain’s Saudi Arabian unit is planning a capital increase and a debt to equity conversion in 2010.
Saad Al Barrak, the chief executive of Zain Saudi Arabia who recently resigned as CEO of the Zain Group, told a news conference that a capital increase was expected to take place before the end of the year.
Furthermore the Kuwaiti operator will look to convert US$577m of debt into equity.
Earlier this week Zain Saudi Arabia, which is 25% owned by Zain, contracted Motorola to build an LTE network in Riyadh.
