By: Ahmad Awad
Kuwait – Mubasher: Zain Kuwait is not considering purchasing the 4G telecom license in Egypt in the current time, due the devaluation of the Egyptian pound against the US dollar, deputy chairman of Zain Bader Nasser Al-Kharafi said.
It was the right decision to take regarding the 4G license in Egypt because of the fall of the Egyptian pound against global currencies basket, he clarified.
“We couldn't find serious steps taken by the Egyptian government for offering the 4G license,” Al-Kharafi said on the sidelines of a press conference held on Tuesday.
Answering a question about the rumors of selling Zain Kuwait, the deputy chairman said that there is no available information about a possible deal; however, if a suitable price is offered, we will discuss it with the decision makers, shareholders and investors.
Regarding Zain Iraq, Al-Kharafi said that the company has achieved a significant progress in negotiations over the past two months. However, after the finance minister exited the government, we are awaiting the new ministry to start new talks.
Zain KSA is having much better environment after extending the license for another 15 years, the deputy chairman highlighted.
Translated by: Ingy ElSafy
