ArabianBusiness.com - Middle East Business News
Wednesday, 25 November 2009 13:06 UAE time

YOUR DIRECTORY /

| Share |

Etisalat denies interest in Zain stake

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 23 July 2009
NO BID: Etisalat denies Zain stake bid. (Getty Images)
NO BID: Etisalat denies Zain stake bid. (Getty Images)

Emirates Telecommunications Corportation (Etisalat) has denied reports that it was looking to buy a stake in Kuwait’s Zain Group.

“We would like to inform you that Emirates Telecommunications Corportation (Etisalat) did not present any proposal or bid to acquire a stake in Zain or any of its assets in Africa,” a statement by the telecoms firm to the Abu Dhabi Securities Exchange said on Thursday.

“We would also like to inform you that Etisalat did not negotiate nor discuss any of these issues with Zain officials,” the statement continued.


Story continues below ↓
advertisement

On Tuesday, Etisalat’s chief executive Jamal al-Jarwan told Reuters news agency that the firm was looking to buy a 51 percent stake in Zain at the right price.

Etisalat’s share price rose on the back of the news, ending 1.4 percent higher.

Thursday’s statement was made on behalf of the firm’s chief financial officer Salem Ali Al Sharhan.

Etisalat operates in 18 countries, including Egypt and India.

| 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(Your email address will not be published)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Please click post only once - your comment will not be published immediately.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

TOP IN MIDDLE EAST TECHNOLOGY

  1. STC vows to honour free calls pledge
  2. Zain boss named CFO of the Year at Dubai awards
  3. Microsoft steps up UAE anti-piracy raids
  4. Yahoo! Maktoob aims to double users in two years
  5. Paltel says deal with Kuwait's Zain is off

TOP MIDDLE EAST BUSINESS STORIES

  1. EXCLUSIVE: PR guru says Dubai needs 'softer image'
  2. Abu Dhabi limits construction to avoid housing glut
  3. Batelco fined $13.3m by Bahrain telecom watchdog
  4. UAE markets open slightly up ahead of Eid holidays
  5. Aabar enters into $1.625bn loan agreement

ALSO IN MIDDLE EAST TECHNOLOGY

  1. Batelco fined $13.3m by Bahrain telecom watchdog
  2. Google and UAE oasis city reach online deal
  3. Gulf telcos sign up to new broadband cable deal
  4. du to invest $85m to improve mobile network
  5. STC vows to honour free calls pledge

LATEST MIDDLE EAST BUSINESS NEWS

  1. Transportation: Saudi, Dubai flights hit by toilet malfunction
  2. Travel & Hospitality: Emirates increases Amman, Doha services
  3. Media & Marketing: Al Jazeera wins TV rights for 2010 World Cup
  4. Travel & Hospitality: Dubai hotels lead Mideast Oct revenues decline
  5. Financial Markets: UAE markets open slightly up ahead of Eid holidays

SHARE PRICE CHECK

more » MIDDLE EAST MARKETS DATA

ETISALAT.ADX

Last Price:

0.00

0.00%

25 Nov 2009 05:06 GMT
(Market Closed)

RELATED STORIES

Emirates Telecommunications Corporation (Etisalat)
| 480 stories
  1. Telco trailblazers
    12 Nov '09 | Interviews
  2. 57% eye change in UAE mobile phone operator
    11 Nov '09 | News
  3. Etisalat poised to seal Man City sponsorship deal
    10 Nov '09 | News

RELATED LINKS

  1. Emirates Telecommunications Corporation (Etisalat)»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Emirates Telecommunications Corporation (Etisalat)

  2. Technology


CURRENCY CONVERTOR

Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. Dubai's Oct property sales value rises by 50% - official 12
    25 Nov ' 09 at 09:56
    haha. well i am 80% more bored than last month but not 50% (half) as bored as i will be next month - so its a growing progression of...   More  »
  2. EXCLUSIVE: PR guru says Dubai needs 'softer image' 03
    25 Nov ' 09 at 10:17
    Well said Max, a lot of us have been saying this privately for a few years. The Biggest and most expensive line has gone beyond...   More  »
  3. UAE banks need to improve customer service - poll 02
    25 Nov ' 09 at 12:31
    I have received a lot of calls from banks who had harrassed me because I was delayed with my payments.. one bank even called my parents...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY