Gulf Stocks: U.A.E.’s Emirates Telecommunications, Kuwait’s Zain
The following stocks gained or fell in the Gulf. Symbols are in parentheses.
Emirates Telecommunications Corp. (ETISALAT UH) gained 0.9 percent, the most since Dec. 9, to 10.85 dirhams. Mobile Telecommunications Co. (ZAIN KK) rose 1.3 percent to 1,540 fils. 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 is known as Etisalat and Mobile Telecommunications is known as Zain.
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