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Kuwaiti "ZAIN" seeks to buy "one billion" share in Arab Telecommunications Company.

2008-03-05

The Jordanian newspaper "Al-RAI" declared passing from the CEO of "ZAIN" the Kuwaiti mobile telecommunications company that the company is making conversations regarding buying a share in an Arab telecommunications company for one billion dollars. And the newspaper mentioned that "ZAIN" which is the third large Arab telecommunications operator from market value side, is looking to buy approximately %50 of the targeted company, also the newspaper didn"t specify the target and didn"t manage to contact the CEO of ZAIN to get his comments. ZAIN announced last month that the company is not a part of any advanced conversations regarding taking over after a newspaper pressed that ZAIN is looking forward to take over SYRIATEL, and "AL-KABS" newspaper mentioned in that time passing from unspecified sources that the ZAIN is engaged in advanced negotiations of buying %51 of SYRIATEL and is looking to expand its international operations within the crescent competitive circumstances in the local market.