Saudi Arabia's Kingdom Holding Co has announced that it will begin conducting due diligence to acquire a stake in Zain's telecoms operations in the kingdom, The National has reported. "The due diligence process will start as soon as we get the approvals from the board of Zain Saudi Arabia," the firm said. Zain said on Thursday it had "signed a non-binding term sheet" over the sale of a 25% stake in Zain Saudi Arabia to KHC and its partner Batelco. KHC's share price increased the most in almost two weeks in early trading yesterday, rising 2.2% to 9.3 riyals on the Tadawul on news that the deal was moving forward.