22.03.2011 - Etisalat drops $12bln bid for Zain
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 Etisalatís due diligence process, a lack of unanimity among Zain board members and political unrest in the region..............................................Full Article: Source
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