Paltel sets 9 February date for decision on Zain offer

5 Feb 2009

According to online portal MEED, Palestine Telecommunications Company (Paltel) will make a decision regarding the sale of minority stake to Kuwait-based telecoms group Zain on 9 February. Paltel, which holds a monopoly in the fixed line sector in the West Bank and Gaza, will assess the offer at a meeting of its board of directors. The announcement comes after reports at the end of January 2008 that talks between Paltel and Zain regarding a stake sale were at ‘advanced’ stages.

Palestinian Territory, Palestine Telecommunications Company (Paltel, incl. Hadara), Zain Group