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FINANCIAL NEWS
Kuwait’s Zain to buy Etisalat’s 92.3 pct share in Sudan’s Canar
02 May 2016
(MENAFN) Kuwaiti telecom firm Zain confirmed to buy Abu Dhabi- Etisalat’s 92.3 percent share in Sudanese line operator Canar for USD 95.2mn.
Additionally, the deal will increase Zain’s grip on Sudan’s telecom sector, which is already the top mobile operator by subscribers.
Moreover, Sudan accounted for 19 percent of Zain’s revenue and 26 percent of its subscribers in 2015.
Zain Sudan, which launched 4G services last month, posted a 77 percent grow in 2015 profit to USD 0.17bn.
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