Further to the companys announcements on the Tadawul website on 10/09/2011.
The Kingdom Batelco Consortium announced 29/09/2011 that it will not proceed with making a binding offer to acquire Zain Groups 25% stake in Zain KSA.
This follows a period of due diligence and discussions with Zain Group and other stakeholders.
The Consortium concluded that the terms and conditions as set out in its non-binding offer could not be met to its satisfaction.
Kingdom Holding Company and Batelco Group stated that this decision is in the best interests of their respective shareholders.
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