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Zain signs term sheet with Kingdom Holding and Batelco for Saudi stake sale

09 April 2011

Kuwaiti telecoms firm Zain has said it has signed a term sheet with Kingdom Holding and Batelco for the sale of its stake in Zain Saudi, Reuters has reported. "Zain signed yesterday the term sheet for the non-binding offer, with Kingdom-Batelco consortium...to buy Zain's 25% stake in Zain Saudi," the firm said in a statement. The agreement includes all the terms that Zain had set for the buyers, Zain said.

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