Zain in talks to sell its African operations
The company is in talks with three firms including...
August 17, 2009 11:27 by Aarti Nagraj
Kuwait-based telecoms firm Zain may be planning to sell all or part of its African operations, and is in talks with three major telecoms firms, including one from India, according to a report in the Kuwaiti daily Al-Rai. Saad al-Barrak, Zain’s CEO, told the paper that the changes were necessary for the firm to fit in with the competitive nature of Kuwait’s economy.
In July this year, French telecoms company Vivendi called off talks to buy a majority stake in Zain’s African business.