Al Qabas knew from accountable sources from ZAIN that signing the merger between PALTEL and ZAIN Jordan had been postponed to next Tuesday.
The sources said that it was scheduled to sign the merger last Monday, but then it was setback for the completion of certain approvals of several internal transactions relating to the board of directors of PALTEL, noting that the company is pushing ahead with the proceedings on the completion of the merger process.
The sources added that the requirements of the merger are interpolated, the transaction will be through a mix of merger tools; acquisitions and a share exchange and the method of takeover, pointing to ZAIN will own a stake of up to 55% of the total new entity in the event of completing the merger.