RPT-Zain cuts sales forecast; talked to Syriatel

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BEIRUT Nov 9 (Reuters) - International mobile operator Zain (ZAIN.KW) expects the global financial crisis and currency market turmoil to cut $1 billion from its forecast revenues of $9 billion this year, the company's chief executive told Reuters on Monday.

Saad al-Barrak also disclosed that Zain had held talks to buy Syriatel, the top mobile company in Syria, which is under U.S. sanctions, but the talks have been "postponed" for reasons he did not reveal.

Barrak, who is attending an International Telecommunication Union conference in the Lebanese capital, said Zain's revenues would reach $8 billion this year, compared with a $9 billion forecast and actual 2008 revenues of $7 billion.

"The financial crisis has changed the consumption patterns... exchange rate differences have also been a main factor," Barrak said.

He said Zain, which is listed on the Kuwaiti bourse, would make a statement with profit figures in several days. (Reporting by Khaled Yacoub Oweis; Editing by Hans Peters)