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Zain in talks with Etisalat
Source: BI-ME with Reuters , Author: Posted by BI-Me staff
Posted: Mon June 28, 2010 3:37 pm
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KUWAIT. Kuwait telecoms firm Zain is in talks with Abu Dhabi's Emirates Telecommunications Corp  (Etisalat) about selling a majority stake in the group, a Kuwaiti newspaper report said on Sunday.

Both firms held meetings last week to discuss the potential deal, daily al-Seyassah said.

"Etisalat does not comment on market speculation and rumours," Ahmed Bin Ali, group senior vice president for corporate communications at Etisalat told Reuters on Sunday.

The Abu Dhabi operator has said it is looking at options in India, including taking a 26% stake in the country's second-biggest mobile operator Reliance Communications.

On Sunday Reliance agreed to sell its telecoms tower business to GTL Infrastructure but said it was still seeking to pursue the sale of a 26% stake in the firm.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 2, 2010
INTERNATIONAL. The triangle pattern has taken nearly 9 months so far, and a move over US$19.50 could start a multi-month run targeting US$26-US$29 per ounce for starters before a broad pullback.
date:Posted: September 1, 2010
UAE. Given the recent developments in Saudi Arabia and India, there is now a greater level of hope that the TRA and RIM will reach an agreement about the manner in which BB Messenger services are provided.
date:Posted: September 1, 2010
UAE. GCC Telecom markets are on the verge of saturation, while prices decline due to increasing competition, resulting in telcos profits being under very high pressure.