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Article: Malaysian-Indian alliance to buy stake in Kuwait s Zain telecom.

Article from:
Times of Oman (Muscat, Oman)
Article date:
September 12, 2009
Copyright

Byline: AFP

KUWAIT CITY: Leading investors in Kuwait s Zain telecom on Tuesday signed an agreement with a Malaysian-Indian consortium for the sale of a 46-percent stake in the emirate s largest mobile operator.

The consortium consists of Malaysia s al-Bukhari Group and India s Bharat Sanchar Nigam Ltd. (BSNL), India s largest communications service provider, Mahanagar Telephone Nigam Ltd. (BSNL) and Vavasi Group.

Bader al-Khorafi, a top executive of Kuwait s Al-Khorafi Group, the largest private shareholder in Zain, told a press conference late Tuesday that the sale would be carried out within four months.

He said the value of the sale, ...

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