Zain Saudi Arabia deal to be completed within two months

15 Jul 2011

The CEO of Batelco says that the joint purchase of a stake in Zain Saudi Arabia looks set to be completed within eight weeks. Batelco, part of a consortium which includes Saudi billionaire Prince Alwaleed bin Talal’s Kingdom Holding, agreed to buy Zain’s stake in the operator for USD950 million in March. The executive told Reuters that the deal is progressing well and that there are no show-stopping issues.

Saudi Arabia, Bahrain Telecommunications Company (Batelco), Zain Group, Zain Saudi Arabia