KIA considers Zain stake sale

28 Jul 2009

According to a report in Kuwaiti daily Al Rai, the Kuwait Investment Authority (KIA), the largest single shareholder in Zain Group, would consider selling its 24.9% stake in the mobile operator if offered an attractive price. Last week, Zain CEO Jalal al-Jarwan revealed in an interview with news agency Reuters that Etisalat of the UAE was interested in purchasing a 51% share of the cellco, although negotiations have not yet begun. Today’s report, citing unnamed sources, will renew speculation surrounding a potential sale, with KIA reportedly stating that it had no objection to discussing a deal as long as any bid is serious.

KIA, a state-owned wealth fund, sold its 19.8% stake in Islamic lender Boubyan Bank in an auction last week and Kuwait’s finance minister, Mustapha al-Shamali, said earlier this month that KIA may sell further stakes in local companies.

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share