Etisalat elucidates its stand to acquire shares in Zain

Press release

Published March 2nd, 2011 - 11:06 GMT

Etisalat

Etisalat spokesperson Ahmed bin Ali has reiterated that Etisalat's stand towards Zain acquisition is not changed, and Etisalat is still interested on the Zain's deal.

Bin Ali added that pertinent and suitable information related to the due diligence have been collected and “Etisalat” is in the process to study and analyze the collected information. Consequently the results will be discussed with the sellers in a later stage, and the final results will be presented to Etisalat`s Board of Directors to make a decision in this regard.

Etisalat will inform its stakeholders with the progress of the Proposed Transaction in due course.

Background Information

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etisalat has deployed many innovative technologies and services to remain at the leading edge of customer experience.
etisalat’s senior leaders understands the need to continue its investments in building the networks of the future because the positive effects filter down to the rest of the economy. Today, the UAE boasts of an excellent telecoms ecosystem, capable of driving successes across industries and sectors.