ArabianBusiness.com - Middle East Business News
Tuesday, 24 November 2009 19:27 UAE time

YOUR DIRECTORY /

| Share |

Vivendi chief declines comment on possible Zain bid

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 05 July 2009
ZAIN BID: Vivendi chief holds cards close to chest. (Getty Images)

Vivendi chief Jean-Bernard Levy declined on Saturday to say whether the French media and telecom group was interested in acquiring the African operations of Kuwaiti telecom group Zain.

"I have no comment to make on this," Levy told Reuters on the sidelines of an economic forum in southern France.

The media has reported in recent weeks that Zain was looking to sell its African operations after receiving several offers including one from Vivendi.

Zain, whose biggest shareholder is Kuwait's sovereign wealth fund, has spent heavily to expand and operates in 23 countries in the Middle East and Africa.


Story continues below
advertisement

It has spent more than $12 billion in Africa since 2005, including nearly $3 billion in Nigeria, and said it planned to spend up to $2 billion more on the continent this year.

However, African media have reported in recent weeks that Zain was looking to sell its African business and would study bids made by other companies if no deal was reached with Vivendi. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

RELATED LINKS

  1. Vivendi»
  2. Zain»

 EMAIL ALERTS

  1. Kuwait Investment Authority

  2. Vivendi

  3. Zain

  4. Technology


CURRENCY CONVERTOR

Tell us your story

READER COMMENTS

  1. Why I h8 junk txts 07
    24 Nov ' 09 at 12:46
    Trick them!Posted by Manish, Dubai - WHAT AN EXCELLENT IDEA - WHY NOT GIVE SOMEONES NUMBER IN ONE OF THE TELECOM'S DUOPOLYSURE WHEN...   More  »
  2. Dubai's Oct property sales value rises by 50% - official 04
    24 Nov ' 09 at 17:08
    now hold onto your hats people as we see a massive bounce just like the US stock market.The good ole days are here again!!!!!   More  »
  3. 'Worrying' diabetes tests raise doubt on UAE's health 04
    24 Nov ' 09 at 13:42
    Obesity is on rise in every part of the world but especially in Gulf region especially due to life style changes.We all need to...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM