DUBAI Oct 3 Zain Saudi Arabia said on
Monday that a decision by the government to extend its licence
in the kingdom by 15 years would reduce its annual amoritisation
charge by 433 million riyals ($115.4 million) starting from the
date of the extension.
The licence extension will reduce its net losses by the same
amount, the company added.
The Capital Market Authority on Sunday suspended trade in
the shares of the kingdom's listed telecommunications operators
after the government decided to extend their licences. In
addition, the government said it would provide the firms with
"unified licences" allowing them to offer all telecommunications
services. It did not give details.
(Reporting by Tom Arnold; Editing by Andrew Torchia)