Lebanon extends OTMT’s and Zain Group’s management contracts for one month
The Ministry of Telecommunications in Lebanon has extended both OTMT’s [OTMT.CA] Alfa and Zain Group’s [ZAIN.KW] Touch management contracts for one month, commencing 1st of January, 2016. According to Bloomberg, the Telecommunications Ministry requested from the Cabinet the management of both networks starting 1st of February, 2016. (Al Hayat, Bloomberg) OTMT: EGP0.71 as of 31 December 2015, Rating: Sell, FV: EGP0.53 per share, MCap: USD476 million, OTMT EY / OTMT.CA Zain Group: KWD0.35 as of 31 December 2015, Rating: Buy, FV: KWD0.51 per share, MCap: USD5,043 million, ZAIN KK / ZAIN.KW
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