Zain Group’s Iraqi subsidiary appeals USD100mn fine
Zain Group’s [ZAIN.KW] subsidiary in Iraq, Zain Iraq has appealed a court decision to pay USD100mn (KWD30mn) to the Communications and Media Commission (CMC), the Iraqi telecom regulator. The amount in question is related to an allegation that the unit had sold sim cards without the CMC’s permission. (Bloomberg, Reuters) Zain Group: KWD0.34 as of 13 July 2016, Rating: Buy, FV: KWD0.51 per share, MCap: USD4,827mn, ZAIN KK / ZAIN.KW
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