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Kuwaiti "ZAIN" inquires to apply for telecommunications license in Lebanon and shows interest in buying "SYRIATEL"

2008-03-11

Kuwait "ZAIN" expressed its interest in buying "SYRIATEL" but didn"t enter the negotiations phase yet. Sa"d Al-Barak the CEO of "ZAIN" stated in a press meeting yesterday that "the competition is still open". He added that "ZAIN" is looking forward in Yemen without mentioning any details. "SYRIATEL" website indicates that it dominates %55 of the market that is populated with 19 million individual, also the company is owned by Rami Makhlouf the cousin of the Syrian president Bashar Al-Asad .Also last month, "TURKECELL"the biggest mobile company in turkey declared that they will bid for buying a takeover share in "SYRIATEL". On the other side, the general manager of "ZAIN" said that they want to win the mobile license in Lebanon.