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27-Sep-2016

Zain Group still interested in 4G licence in Egypt; China Telecom is yet to present an official letter of interest

Zain Group [ZAIN.KW] has reiterated its interest in acquiring the upcoming 4G licence in Egypt as representatives with the company held a meeting with the Minister of Communications and Information Technology, Yasser Al Kady, according to unnamed sources. The meeting was held along the sidelines of the Arab Telecom Ministers Convention in the UAE. Zain Group is ready to pay the entire licence cost in USD. Moreover, China Telecom has not presented an official letter of interest yet, the sources added. (Al Mal)   Zain Group: KWD0.34 as of 26 September 2016, Rating: Buy, FV: KWD0.49 per share, MCap: USD4,899mn, ZAIN KK / ZAIN.KW  

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