Zain stake sale to take longer than first planned

11 Jan 2010

The company leading the consortium to sell a 46% stake in Kuwait operator Zain, the Karafi Group, has said that the deal will take more time to finalise due to the region’s current economic circumstances, reports Gulf Times. On 8 September a group of Indian and Malaysian investors revealed plans to acquire a 46% stake in the company for about USD13.7 billion and that the deal would take about four months to complete. However, although the deal is said to still be on the table, it is unclear when it will now be concluded.

Kuwait, Bharat Sanchar Nigam Limited (BSNL), Zain Group