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Emirates Telecommunications and Zain: Gulf Equity Preview

Dec. 23 (Bloomberg) -- The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.

The DFM General Index slipped 0.1 percent to 1,623.83, while Kuwait’s SE Price Index advanced 0.7 percent. Saudi Arabia’s Tadawul All Share Index is closed for the weekend.

Emirates Telecommunications Corp. (ETISALAT UH) and Mobile Telecommunications Co. (ZAIN KK): Kuwait’s commercial court allowed due diligence to proceed on Emirates Telecommunications’ planned purchase of 46 percent of the Kuwaiti phone company Zain, denying a minority shareholder’s effort to halt the transaction.

Emirates Telecommunications, known as Etisalat, closed unchanged at 10.75 dirhams. Mobile Telecommunications, known as Zain, was unchanged at 1,520 fils.

To contact the reporter on this story: Zahraa Alkhalisi in Abu Dhabi at zalkhalisi@bloomberg.net

To contact the editor responsible for this story Shaji Mathew at shajimathew@bloomberg.net

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