KUWAIT, March 12 Kuwaiti telecommunications
group Zain has reached the final stages of selling its
mobile transmitter towers in the country, the company's vice
chairman Bader Nasser al-Kharafi said on Sunday.
The company is awaiting approval from the telecommunications
regulator, Kharafi said at a shareholder meeting. He did not
give details of the planned sale.
Sources told Reuters in March last year that Zain was
narrowing the field of potential bidders for its towers in
In addition, Zain's affiliate Zain Saudi said in
December that it was in talks to sell its towers to a consortium
comprising TASC SAL and ACWA Holding IPO-ACWA.SE. The Saudi
sale would fetch over $500 million, a top executive said.
(Reporting by Ahmed Hagagy; Writing by Hadeel Al Sayegh;
Editing by Andrew Torchia)