Business Recorder - Business & Finance - Industry https://www.brecorder.com/ Business Recorder en-Us Copyright 2026 Fri, 14 Aug 2026 02:33:35 +0500 Fri, 14 Aug 2026 02:33:35 +0500 60 Kingdom extends Zain offer for a second time https://www.brecorder.com/news/2797/kingdom-extends-zain-offer-for-a-second-time <p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/Kingdom_Holding_Company_log.jpg" width="400" height="277" />JEDDAH: Saudi investment firm Kingdom Holding said on Sunday it has extended, for the second time, its offer to buy the Saudi telecoms asset of Kuwait-based operator Zain to Feb. 16.</p> <p class="MsoPlainText">Kingdom, owned by Saudi billionaire and Citigroup (C.N) investor Prince Alwaleed bin Talal, made a non-binding offer on Jan. 31 for Zain's 25 percent stake in Zain Saudi. The offer was due to expire on Feb. 13.</p> <p class="MsoPlainText">"The firm has agreed to extend the offer for the second time until 5 p.m. time on Wednesday, February 16 and that is according to the request of the board of Kuwait's Zain," Kingdom Holding said in a bourse statement on Sunday.</p> <p class="MsoPlainText">Zain must sell its Saudi assets to clear the way for the UAE's Etisalat to complete its $12 billion bid for a controlling 46 percent stake in Zain.</p> <p class="MsoPlainText">Kingdom did not say what it would pay to buy the stake.</p> <p><center><b><i>Copyright Reuters, 2011</i></b><i></i><br /></center></p> JEDDAH: Saudi investment firm Kingdom Holding said on Sunday it has extended, for the second time, its offer to buy the Saudi telecoms asset of Kuwait-based operator Zain to Feb. 16.

Kingdom, owned by Saudi billionaire and Citigroup (C.N) investor Prince Alwaleed bin Talal, made a non-binding offer on Jan. 31 for Zain's 25 percent stake in Zain Saudi. The offer was due to expire on Feb. 13.

"The firm has agreed to extend the offer for the second time until 5 p.m. time on Wednesday, February 16 and that is according to the request of the board of Kuwait's Zain," Kingdom Holding said in a bourse statement on Sunday.

Zain must sell its Saudi assets to clear the way for the UAE's Etisalat to complete its $12 billion bid for a controlling 46 percent stake in Zain.

Kingdom did not say what it would pay to buy the stake.

Copyright Reuters, 2011

]]> Business & Finance https://www.brecorder.com/news/2797 Sun, 13 Feb 2011 06:49:03 +0500 none@none.com (Syed Murtaza Gheblehzadeh)