Al Mamlaka Holding offered to buy Kuwait “Zain” shares in “Saudi Zain”

Al Mamlaka Holding declared its unbinding and initial offer to the Board of Directors of Etisalat Telecommunications in Kuwait (Zain) in order to buy all its shares. This offer is valid till Sunday 17:00 in Al Riyadh from 3-3-1432 a.h. (6/22/2011 A.D). This offer may be accepted by Board of Directors of Etisalat Telecommunications before its binding. There are many declarations about the new contributions to shareholders of Kuwait Zain, Saudi Zain and Mamlaka Holding.
Ali Al Mosa, the ex-chief of Board of Directors in Stock Group (one of the first big kingdom corporations in Kuwait stock market and one of the biggest shareholders in Kuwait Zain) that Mamlaka Holding offered to buy Saudi Zain shares and also Kuwait Zain; the offer is to buy 25% in Saudi Zain with no more details.
With reference to any connection between Etisalat and Kuwait offer, Al Mosa said “I don't have advanced information about purchase. The kingdom is a Saudi investor and the communications invested in UAE.
Peter kaliarwbolos (the Executive chief of Bahrain Telecommunication Co. (BTELCO) said that on 27/1/2010 his company is looking forward to buy shares of Saudi Zain and they will submit a quotation with the proper price.