Batelco talks to banks over Zain but questions remain
Bahrain Telecommunications Company (Batelco) and Saudi Arabian investment company Kingdom Holding have signed a non-binding term sheet with Kuwaiti telecoms company Zain. The agreement outlines the terms for the purchase of Zain’s 25% stake in Zain Saudi Arabia and is in line with an offer made in March.
The bidders offered $950m for the stake and will not take on Zain Saudis debt, which totals more than $3bn.
Zain considered selling its stake in the Saudi mobile operator because the regulator demanded the sale as a condition of Abu Dhabi-based Etisalats bid for a 46% stake in
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