Zain to restart Paltel merger discussions?

25 Jan 2010

According to the Palestinian newspaper Al Qabas, the Zain Group is seeking to resurrect the aborted merger of its Jordanian assets with Palestine’s Paltel. The paper added that it wants to secure the deal on the same terms as before. Under the terms of the agreement that was announced in May last year, Zain was to transfer the ownership of its Jordan subsidiary to Paltel in exchange for taking an equity shareholding of 56.53% in the enlarged company. However, the talks were called off when Zain said that it did not receive the required government approvals necessary to conclude the deal.

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