NEW DELHI: The Indo-Malaysian consortium led by the Delhi-based Vavasi Group, which had entered into an agreement with Kuwaiti telco Zain in
September 09 to acquire a 46% stake in the West Asian company for $13.7 billion, has now secured more time to conclude the deal.
On Thursday, Zain’s largest shareholder said that the sale process would take longer while also rebutting mounting speculation that the deal was dead. As per the earlier schedule, the deal was to be completed within four months of the September 8 announcement where the Vavasi-led consortium and Zain’s largest shareholder—Al-Khorafi group had jointly said they had reached an agreement for the sale.
Zain sale delayed, but still on track- Telecom-News By Industry-News-The Economic Times
September 09 to acquire a 46% stake in the West Asian company for $13.7 billion, has now secured more time to conclude the deal.
On Thursday, Zain’s largest shareholder said that the sale process would take longer while also rebutting mounting speculation that the deal was dead. As per the earlier schedule, the deal was to be completed within four months of the September 8 announcement where the Vavasi-led consortium and Zain’s largest shareholder—Al-Khorafi group had jointly said they had reached an agreement for the sale.
Zain sale delayed, but still on track- Telecom-News By Industry-News-The Economic Times
