Turkish firm reported to be keen on Zain stake
Formal discussions on hold until Zain finishes transferring its sold assets in Africa to India's Bharti Airtel, according to a report
A Turkish company has expressed an interest in buying a stake in Zain, according to Reuters.
"The Turkish company is still searching on a preliminary basis into the issue and did not formally discuss the features of the deal with the owners of the company," reported the newswire, quoting an unsourced report in Kuwaiti newspaper al-Qabas.
It is claimed that if an agreement is reached, the Turkish company will not enter discussions or specify the amount of shares it is interested in buying until Zain finishes transferring its sold assets in Africa to India's Bharti Airtel.
Zain is expected to concentrate on its Middle Eastern operations following the agreement in March with Bharti to sell most of its African assets for US$9 billion.