Zain transfers Touch management to Lebanese government

Kuwait-based Zain Group handed over the management of Lebanese mobile operator Touch to a new management and board, appointed by Lebanon’s telecoms ministry, on 30 October 2020. A company statement to Boursa Kuwait, reported by Zawya, confirmed the move, while adding that Zain would reapply, if permitted, to manage one of Lebanon’s two state-owned mobile operators – Touch (MIC 2) or Alfa (MIC 1). The statement said a strategy to re-enter the Lebanese mobile sector would be on the condition that a clear business plan was developed within an agreement with the ministry. Zain also confirmed that there was no material or financial impact for the group due to the management exit.