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Zain market’s value boosts

08 Sep 2011

(MENAFN) Global Investment House’s head of asset management for the Gulf region, Shahid Hameed, said that Zain recorded its highest market value in five weeks in Kuwait, reported Arabian business.

Hameed stated that Zain’s highest value boosted to reach 5.3 since August 2 compensating the company’s losses since the beginning of the year to 34 percent.

Kingdom Holding and Bahrain Telecommunications (Batelco) proposed an offer to buy Zain’s quarter-stake and the company agreed. This deal is expected to be signed before the end of August, Hameed added.

It is worth mentioning that Zain which is regarded one of the biggest telecom firms in the Middle East is expected to keep improving its financial performance and lead the region’s telecoms company.

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