Zain in talks for stake in Paltel (Palestinian Territory)

January 29, 2009 at 16:35 Leave a comment

Reuters is reporting that Kuwait-based telecoms giant Zain is in discussions aimed at taking a stake in Palestinian fixed line and broadband provider Palestinian Telecommunications Company (Paltel). A spokesman for Zain confirmed that talks between the two companies are at ‘advanced’ stages, and a deal could be concluded soon. It has not been confirmed however whether Zain is pursuing a majority in stake in Paltel, and trading in the latter company has been suspended on the Palestine stock exchange until any further announcements are made by the operators regarding the merger.

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Entry filed under: Financial, Kuwait, Mobile Network Operator, Palestinian Territory, Paltel, Reuters, Zain. Tags: , , , , , , .

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