Saudi Arabia’s Tadawul market declined 0.18% to close at 6,392.39. The talk of the day in the GCC were rumors that the UAE telecom giant Etisalat aims to buy 46% in Kuwait’s Zain Telecom, worth around $11bn. Saudi Telecom (STC) failed to reap benefit from the buyont environment in the GCC telco sector and ended off 0.77% to close at SR38.70. United International Transportation Company bucked the trend and surged 3.54%, ending at SR58.50.