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Sabeih Al Masri: final agreement on the deal with ZAIN within days

2009-03-26

Ramallah- Al Ayyam: The chairman of the Palestinian Telecommunications Company (PALTEL) Mr. Sabeih Al Masri assured that the company is on the verge of reaching a final agreement with the Palestinian National Authority on the partnership with Kuwaiti ZAIN within days.
Al Masri expected in a statement to the Jordanian Al Ghad newspaper that had been published yesterday, that the National Authority will announce final approval on the deal at the end of this week, after "the completion of transactions and legal procedures governing the relationship between the company and the authority".  
He added: the general trend for the completion of the transaction is on a positive track, and d the final approvals by the Authority will be announced during days. He stressed out the importance of partnership with ZAIN, particularly as it owns ZAIN Jordan that is the largest cellular phone operator in the Jordanian market in terms of geography and population, in addition to power of the group ZAIN as a whole, which operates in 22 markets.  
PALTEL announced earlier which held an emergency meeting in Amman last Saturday, that the board of directors had approved the deal with ZAIN as a final, and authorized Al Masri to complete special procedures to obtain final approval of the Authority, and to call an irregular general assembly, and preparations for signing a formal deal between the two partners: the Palestinian and Kuwait.
The Prime Minister Dr. Salam Fayyad said last Sunday, one day after the meeting of the Board of Directors of PALTEL "There are advanced discussions on the deal, and I hope to finish this issue in the coming days".