Kuwaiti telecom firm Zain announced on Thursday (April 7th) that it reached an agreement to sell its operations in Saudi Arabia to Saudi Kingdom Holding and Bahraini Batelco.
The company said it "signed a non-binding term sheet" regarding the sale of its 25% stake.
The sale "makes sense", analyst Irfan Ellam of Dubai firm al-Mal Capital told The National, because Kingdom Holding knows the Saudi market while Batelco brings experience in the telecom sector.
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