Bloomberg News

Zain Poised for Biggest Drop Since May on Saudi Unit Stake

September 29, 2011

Sept. 29 (Bloomberg) -- Mobile Telecommunications Co. is headed for its biggest decrease in more than four months after Kingdom Holding Co. and Bahrain Telecom Co. abandoned plans to buy a 25 percent of the Kuwaiti company’s Saudi Arabian unit.

The shares dropped 3.1 percent, poised for the biggest decline since May 15, to 940 fils at 9:07 a.m. in Kuwait City.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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