Kuwait telco Zain wins appeal in sheikh lawsuit

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Kuwaiti telecom operator Zain said it had won an appeal against a discrimination lawsuit filed by a member of the country's ruling family, according to a statement on the stock exchange on Thursday.

The lawsuit, filed by Sheikh Khalifa Ali al-Khalifa al-Sabah, accused Zain of unfair selection of members to the board of directors in April 2011.

Kuwait's Court of Cassation rejected the essence of Sheikh Khalifa's lawsuit in a hearing on January 30 and ordered him to pay the fees associated with the case, the filing said.

The ruling was final since the court was the highest legal body in Kuwait for the suit, it added.

At the April board meeting, Sheikh Khalifa was voted off the board, and Bader al-Kharafi, the vice chairman of Kharafi Group was elected in his place.

Sheikh Khalifa had steadfastly and successfully opposed the Kharafi-led proposed sale of a 46 percent stake in Zain to Etisalat, with the Kuwaiti company's feuding board one of the reasons why UAE's top telecom operator scrapped its US$12bn offer in March 2011.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
How Dubai is helping Ireland's economic push

How Dubai is helping Ireland's economic push

Tourism is now Ireland’s second-largest industry, and is playing...

Capital plans: how Qatar's banks are shaping up

Capital plans: how Qatar's banks are shaping up

Ahli Bank chief executive Salah Murad says that despite competition...

Saudi Arabia accelerates reform push with market opening

Saudi Arabia accelerates reform push with market opening

Stock market move follows labour market reforms and a new mortgage...

Most Discussed