send to a friend by email

Vice chairman of ZAIN: Partnership with the PALTEL will be unique and we hope to be complete quickly

2009-02-16

The Kuwaiti ZAIN Mobile Telecommunications assured yesterday its serious interest in completing the strategic partnership with the Palestinian telecommunications company, looking forward to complete the transaction quickly.
The Deputy Chairman of the Board of ZAIN Saad al-Barrak stated to a statement received by Al-Ayyam newspaper "We look in a great specificity to the Palestinian market, and we have a strong interest in the completion of this partnership that will allow us to serve the Palestinian people" asserting that ZAIN will seek to strengthen the Palestinian telecommunications sector by devoting all their energies to contribute to the growth and renaissance of the national economy.
He added " ZAIN looking to accomplish this quickly to celebrate the partnership with the Palestinian telecommunications subscribers, and with a group of its shareholders that the launch of this partnership is built on the basis of harmony between the two parties in the first of its kind deal is in the region, and looks forward to the blessing of this partnership which regarded as a certificate of encouragement for Arab investors to enter the fields of investment in Palestine".
Barrak said that the partnership "will be unique of its kind in the region, especially as it will provide to ZAIN Group and the PALTEL a merger plan between Palestine and Jordan markets a market which ZAIN serve in … We are not buying PALTEL, and they in turn are not selling their share in the company, but we will all be partners within a strong and solid being, while maintaining the Palestinian privacy of the partnership".
Al Barrak said "This strategic alliance will strengthen the efforts of the ZAIN Group for the Advancement of communications sector in Palestine."
He explained that this partnership will enhance the efforts of ZAIN to expand the spread of Middle Eastern communications community under the umbrella of one network that does not recognize geographical border, and will provide a strong platform of integration for the Palestinian One Network in the Middle East, with at the same time an Arab and international depth to the telecommunications sector in Palestine. "