Indian and Malaysian group to buy 46pc stake in Zain
A group of Indian and Malaysian investors and companies have agreed to buy a…
September 10, 2009 12:01 by kippreport
A group of Indian and Malaysian investors and companies have agreed to buy a 46 percent stake in Kuwaiti telecom firm Zain, reports Reuters. The deal is one of the largest overseas acquisitions in the GCC.
The consortium, which is made up of India’s Vavasi Group, government-owned Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, and Malaysian billionaire Syed Mokhtar al-Bukhary, will pay KD 2 ($6.98) a share.
Their combined stake in Zain will amount to $13.7 billion.