By Inal Ersan
Oct. 9 (Bloomberg) -- Kuwait’s sovereign wealth fund did not receive an offer for its stake in Mobile Telecommunications Co., known as Zain, Managing Director Bader al-Saad said in remarks to Al Arabiya television aired today.
Al-Saad said the fund supports the possible deal in which Emirates Telecommunications Corp., known as Estisalt, offered to buy 46% of Zain and said the deal would be a boost to the Kuwaiti stock market. He declined to comment on the price offered by Etisalat. The fund, the Kuwait Investment Authority, holds 24.6 percent in Zain according to Bloomberg data.
Source: www.businessweek.com
No comments:
Post a Comment