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Sovereign Wealth Funds Briefing - Categorized | Financials

Etisalat drops $12bln bid for Zain

Posted on 22 March 2011

Etisalat has abandoned its plan to buy Zain because of regional unrest and resistance from some Zain board members. Zain is 24.6%-owned by Kuwait Investment Authority and majority owned by Al-Khair National Stocks and Real Estate Company.
Etisalat has discarded its $12 billion offer for a large stake in Kuwaiti operator Zain. The deal fell through due to the results of Etisalat’s due diligence process, a lack of unanimity among Zain board members and political unrest in the region……………………………………….Full Article: Source


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