close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Securities Group wants to join Zain-Etisalat deal

Etisalat has bid 1.7 Kuwaiti dinars per share for a 46 percent stake in Zain in a deal worth just under $12 billion.

0

December 6, 2010 12:13 by



Securities Group Co, a brokerage firm that has opposed the structure of deal to sell 46 percent of Kuwaiti telecom group Zain to Etisalat now wants to join the deal, a newspaper reported on Monday.

Al-Qabas daily said, without citing sources, that Securities Group has “informed the selling consortium … it wants to join with shares owned by its clients.”

Securities Group chairman, Ali al-Mousa, confirmed the report to Reuters on Monday, but declined to provide any details.

Etisalat, the Gulf’s second-largest telecom operator by market value, has bid 1.7 Kuwaiti dinars per share for a 46 percent stake in Zain in a deal worth just under $12 billion.

The bid won the backing of major Zain shareholder Kharafi Group which began gathering a consortium of shareholders to tender shares to Etisalat.

But Securities Group, unhappy at not being part of the deal, ran an advertisement in Kuwaiti papers in October, offering Zain shareholders 1.65 dinars per share to try and counter the offer. However, the bourse vetoed the bid saying it was in contravention of its regulations.

Al Fawares Holding, which owns 4.5 percent of Zain, also opposes the sale process, and has threatened to sue potential buyers of the Zain’s Saudi unit, which is slated for divestment as part of the Etisalat deal.

(Reporting by Diana Elias and Eman Goma; Editing by Reed Stevenson)



0

Tags: , , , , ,

Leave a Comment