By Summer Said, Dow Jones Newswires
Monday 11 October 2010
Fund's MD tells local TV station its stake in Zain is not part of Etisalat bid.
Kuwait's sovereign wealth fund didn't receive an offer for its stake in Mobile Telecommunications Co., known as Zain, Al Arabiya television reported Saturday, citing the fund's managing director .
Kuwait Investment Authority's stake in the telecom firm isn't part of an offer by Emirates Telecommunications Corp., or Etisalat, to buy 46% of Zain, Bader al-Saad told the Dubai-based channel.
KIA, however, supports the possible deal which will boost the country's stock exchange, he said.
The fund, which is mainly, targeting emerging markets in Asia, had recently offered to invest $1 billion during the initial public offering of AIA Group, he added.
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