Zain stake might be sold to strategic investor: KIA (Kuwait)
www.WirelessFederation.com/news: 24.6% stake in telecoms firm Zain might be sold by Kuwait Investment Authority (KIA), the country’s sovereign wealth fund. Several investment firms have been asked by KIA to conduct technical studies on the telecoms group.
Selling the stake to a strategic investor or hold an international auction will then depend upon the fund. The current worth of KIA stake is about USD4.5 billion.
In March, a deal was struck by the mobile operator to sell its operations in 15 African countries to India’s Bharti Airtel. It announced to distribute a large portion of proceeds from the USD9 billion asset sales to shareholders, last week.