Zain Close to Selling 46% Stake to Asian Investors – Breaking News

By admin on September 7, 2009 · Leave a Comment

An Asian consortium is seeking to take a 46 percent stake in Zain. Abu Dhabi Investment Authority (ADIA) is said to be a part of the consortium as well. This will inject significant capital into the group without it having to divest its holdings in Africa.

Saad al-Barrak, Zain’s Chief Executive confirmed to Reuters that they were in talks to sell a stake in the group. An unnamed Asia based consortium is reported to be leading the bid.

Filed under Mobile · Tagged with Africa, ASIA, Saad al-Barrak, Zain

Kuwait”s MTC receives int”l award as best Mideast mobile operator in 2005

By Editor on August 15, 2006 · Leave a Comment

Kuwait

‘s MTC receives int’l award as best
Mideast
mobile operator in 2005

KUWAIT, Sept 12 (KUNA) — Kuwait’s Mobile Telecommunications Company (MTC) was honored by Communications Middle East and Africa (Comms MEA) magazine with the awards of Middle East Mobile Operator of the Year 2005 and Telecoms Deal of the Year 2005.

MTC currently operates in 20 nations with over 23 million customers, making it the world’s fifth largest telecommunications company.

During 2005, MTC acquired Celtel,

Africa
‘s leading mobile operator, through a deal worth USD 3.4 billion. The deal is considered the largest direct foreign investment in
Africa
by a Middle-Eastern firm.

In a press statement, MTC’s Deputy Chairman and CEO Dr. Saad Al-Barrak said such awards recognize the fruitfulness of the firm’s nine-year strategy that was launched in 2002, noting that MTC has almost met the strategy’s goals six years ahead of time.

MTC is a nominee in the category of Best National/Regional Operator by Total Telecom’s World Communication Awards 2006 (WCA 2006) that will take place in

London

on November 9. (end) hq.

Source- http://www.kuna.net.kw

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