Zain rules out Vodafone deal

21 Jan 2008

Zain, the Kuwait-based firm which has cellular operations across the Middle East and Africa, has quashed rumours that it is in negotiations with the UK’s Vodafone Group. A local newspaper reported last week that Vodafone was interested in acquiring a stake in Zain, but a spokesperson for the Kuwaiti telco has told Reuters: ‘Vodafone is not in negotiations to buy either a significant or majority stake in Zain’. The Zain official would not comment on the possibility of Vodafone buying a minor interest. Vodafone is no stranger to the Kuwaiti firm: until last year Zain’s domestic cellular operations were branded MTC-Vodafone, with the two companies having collaborated for several years to co-market services.

Kuwait, Vodafone Group, Zain Group