KUWAIT: Kuwait’s telecoms firm Zain is in talks with Abu Dhabi’s Etisalat to sell a majority stake in the group, a Kuwaiti newspaper reported on Sunday.
Both firms held meetings last week to discuss the potential deal, daily Al-Seyassah said in an unsourced report and without providing details about the size of the stake or the price.
A Zain spokesman could not be reached for comment on the report. Etisalat spokesman was not available to comment immediately.
Earlier this month, Zain’s Chief Executive Nabeel bin Salama said the firm was not in talks to sell further assets, after it closed the sale of its African assets, excluding Sudan and Morocco, to India’s Bharti Airtel in a $9 billion deal.
