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Amman: Today ... preliminary signing of ZAIN – PALTEL agreement

2009-05-18

Jafar Sadaqa wrote: 

 PALTEL and ZAIN will sign today in the Jordanian capital a preliminary agreement under which ZAIN enter as a strategic partner in the Palestinian Telecommunications Company PALTEL.
The Deputy Chairman of the Board of Directors of PALTEL Dr. Abdul Malik Al Jaber said for Al Ayyam Newspaper that "The formal signing of the partnership agreement, and the extension of the license with the Palestinian government, will take place in Ramallah in the next two weeks".  
The partnership will be a merger between PALTEL and ZAIN Jordan that is owned by %95 of Kuwaiti ZAIN, as for the Kuwaiti group will own a majority stake of up about %55 of the new company. According to earlier estimates, the size of the new company will increase to 3 billion dollars, will unify for the first time Palestinian and Jordanian markets, with a number of subscribers that is more than 4 million subscribers (1.5 million subscribers in JAWWAL and about2.6 million subscribers in ZAIN Jordan), and this partnership will allow the entry of JAWWAL in the unified ZAIN group, which so far includes five Arab countries namely: Jordan, Saudi Arabia, Bahrain, Sudan and Iraq.
The agreement
crowns negotiations continued for about 5 months, between the PALTEL and ZAIN on one hand, and PALTEL and the Palestinian National Authority on the other.


 

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