Kuwait Zain pays $12.5 mln to up stake in Bahrain unit to 63 pct
 

07-05-14 05:59 PM

Zain has bought a 6.25 percent stake in its Bahraini subsidiary from Vodafone for $12.5 million, upping the Kuwaiti firm's stake to 63 percent which will allow it to retain majority control after the unit's stock market listing. The acquisition values Zain Bahrain, which must sell 15 percent of its shares in an initial public offering (IPO) and list on Bahrain's bourse as stipulated by its ...

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