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Kharafi receives enough Zain shares to tender to Etisalat offer

09 October 2010

The National Investments Co (NIC), a unit of a major Zain shareholder, Kharafi Group has announced the group has received enough shares to tender to Etisalat's offer for a 46% stake in the Kuwaiti telecoms firm, Reuters has reported. "We have approvals from our clients to join the consortium ... and these approvals have taken us to the 46%," Hamad al-Ameeri, general manager of NIC told the news service. Ameeri said "things are going better than we expected," but it was difficult to set now a date for the closing of the deal.

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