KUWAIT, Sept 8 (Reuters) – A consortium of Indian telecom firms and a Malaysian investor will buy a 46 percent stake in Kuwaiti telecom Zain (ZAIN.KW), an official with major shareholder Kharafi Group said on Tuesday.The group will pay 2 dinars a share for the stake in a deal that values stake in the Arab world’s third largest telecommunications firm at about $13.7 billion.
The consortium is made up of India’s Vavasi Group, and regional telecom firms Bharat Sanchar Nigam [BSNL.UL] and Mahanagar Telephone Nigam (MTNL.BO) as well as Malaysian businessman Mokhtar al-Bukhari.
This is great news for the communication sector in Kuwait. The sector is going to become more competitive and the customer is in for better rates. The surprising fact is that this news still hasn’t got the much needed coverage in India. Guys prepare yourself to see Deepika Padukone in Zain Ad’s, after all it’s “A WONDERFUL WORLD“