Kuwait Wealth Fund Studies Feasibility of Zain Stake Sale, Al-Qabas Says
Kuwait Investment Authority, the country’s sovereign wealth fund, is assessing the value of Zain shares for a possible sale of its stake in the company, Al-Qabas reported, citing unidentified sources.
The wealth fund selling its 24.6 percent in Kuwait’s biggest mobile-phone company to an investor or a strategic shareholder is not ruled out, the newspaper said. Kuwait Investment Authority would auction its stake once it decides to sell, Al-Qabas reported.
For Related News and Information: More Zain stories: ZAIN KK <Equity> CN <GO> Top regional news: TOP GULF <GO> Middle East mobile-phone news: TNI MIDEAST WRLS <GO> Zain geographic breakdown: ZAIN KK <Equity> PGEO G <GO> Top technology stories: TTOP <GO> Middle East earnings stories: TNI ERN MIDEAST <GO>