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46 percent of Zain to be sold this week

The Kuwaiti family firm Kharafi Group and other investors…

September 7, 2009 2:41 by

The Kuwaiti family firm Kharafi Group and other investors in telecom operator Zain are expected to sell about 46 percent of the company by the end of this week, a source familiar with the matter told Reuters. “There are talks now…[we will reach a deal] probably by the end of this week,” the source said.

The source did not mention who the buyers were, but according to other reports, a group of Asian companies could be the potential investors.

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1 Comment

  1. Ravi Shankar on September 8, 2009 12:53 pm

    What a change in scenario, earlier any acquisition of a major company was a foregone conclusion either it was by an Europeon or an Amercian company which would be in the forefront to dictate terms. Economic turnaround has taken place so rapidly today, it is either India or China, which are on the prowl to grab what is ever is on the market.
    I think this is a good sign and this will definately lead to equal level of competition and better price for the seller


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