Saturday, November 08, 2008

Zain - foreign acquisitions

Zain plans $4bn acquisitions

Kuwait's Mobile Telecommunications Co (Zain) plans to make four to five acquisitions worth up to $4bn before 2010 as the global credit crisis lowers asset prices for telecom firms, its chief executive told Reuters. Saad al-Barrak said Zain would seek to expand in Africa and the Middle East by buying majority stakes in companies or acquiring licences.

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