Etisalat deal off, Zain Saudi sale in limbo

Abu Dhabi mobile operator Etisalat withdrew its bid for a 46% stake in Kuwaiti telecoms company, Zain, over the weekend. By cancelling the $12bn acquisition, Etisalat threw into doubt the related sale of Zain’s stake in Zain Saudi to Kingdom Holding and Bahrain Telecommunications Company (Batelco).

  • 21 Mar 2011

Batelco said that it remained committed to its joint $950m cash offer for Zain’s 25% stake in the Saudi unit. The sale of Zain’s Saudi subsidiary was a condition laid down by the Saudi regulator for the acquisition of the stake in Zain by Etisalat.

Loans bankers said ...

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