| From Wirelessfederation.com: The US$12 billion takeover bid by Etisalat for Zain has been hit by a serious blow after a major shareholder announced that it had ended talks with Etisalat. The Kharafi directly owns 12.7% of Zain, but its subsidiaries take its holdings up to around 20%. The Kuwait Investment Authority, the country’s sovereign wealth fund, is Zain’s largest shareholder with 24.6% of the company.
According to the Kharafi Group, which had led the shareholder group supporting the sale, NIC, had terminated its commitment to sell its shares to Etisalat...........................................Full Article: Source
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