Etisalat is reportedly looking to pay $10.5 billion for a majority stake in Zain, according to reports.
The bid is for all Zain assets controlled by shareholders who own about 46 per cent of the company, including operations in Saudi Arabia.
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Zain shareholders who are leading the stake-sale plan to accept the Etisalat offer. About 10 per cent of Zain?s shares are held as treasury stock, which would give Etisalat a controlling majority.
