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Thu 9 Dec 2010 03:38 PM

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Agility dips on denial of Korek offer - paper

Agility falls 2 percent, easing from Wednesday's two-week high

Agility dips on denial of Korek offer - paper
Agilitys stock was down 54 percent since it was charged by US authorities with fraud in November 2009.

Kuwait's Agility fell after its chairman was quoted as saying did not receive an official offer from France Telecom  to sell its stake in Iraq's Korek Telecom.

"Exiting is possible if the company receives a suitable price level that results in good revenue," Tarek Sultan told Kuwaiti daily newspaper Al Watan.

Agility falls 2 percent, easing from Wednesday's two-week high.

The stock was down 54 percent since it was charged by US authorities with fraud in November 2009. The logistics provider is accused of defrauding the US military on multibillion dollar supply contracts.

Kuwait's index fell 0.3 percent to 6,842 points.

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