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Zain to sell 25% shares of Saudi subsidiaries for 950 million dollars

Source: Internet
Author: User
Keywords Shares Zain
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C114 Beijing Time March 15 Morning News (SHANGMU) Kuwait's multinational operator Zain has accepted an offer of $950 million for its Saudi Arabian subsidiary, Zain Saudi Arabia (Zain KSAs). The offer was made by a joint venture between Bahrain Telecom (Batelco) and Saudi Kingdom Holding company Kingdom LC.　　The offer does not include a 3.8 billion dollar debt to Zain Saudi Arabia.　　The offer of 950 million dollars in cash in exchange for a 25% share price was a common premium for analysts ' 750 million dollars earlier this year.　　Bahrain Telecom is also a 15% shareholder in Etihad Atheeb EADS, the Saudi ftns operator, and a co-ordinated mobile and fixed network will help two operators significantly reduce costs. Zain's stake in the Saudi subsidiary was followed by a 12 billion dollar merger with the UAE Telecom (Etisalat). The Saudi issue has been resolved and the report suggests the merger could reopen.

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