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Kingdom Bids For $693M Zain Saudi Stake
Kingdom Holdings has placed its bid to buy Mobile Telecommunications’ 25% stake in Zain Saudi Arabia.
Kingdom Holdingshas placed its bid to buyMobile Telecommunications’ 25% stake inZain Saudi Arabia,Financial Timesreports. ThePrince Al-Waleed Bin Talalcontrolled investment firm’s new offer will be open until Feb. 6, 2011.
If the deal goes ahead, it will aid a $12 billion offer made by UAE’sEtisalatfor 46% of Zain in Kuwait.Bahrain TelecommunicationsandQatar Telecomhave also shown interest in the Zain’s Saudi assets. Zain Saudi Arabia’s 25% stake is valued at about $693.21 million, addsBloomberg.
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