Abu Dhabi Investment House Takes Stake in Zain Saudi

(Corrects name of company in headline and story.)

Abu Dhabi Investment House has taken a 2.14 percent stake in Mobile Telecommunications of Saudi Arabia, known as Zain Saudi (ZAINKSA), Argaam reported, citing a prospectus on the restructuring of the company’s capital.

The shares were transferred last month to Abu Dhabi Investment House from Rakisa Holding based on a ruling by the general public complaints office, the news portal said. Abu Dhabi Investment House’s stake is equivalent to 30 million shares, the newspaper said.

Kuwait-based Zain Group said it had no comment on the report when contacted by Bloomberg News today.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

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