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Zain shareholder sues over stake sale to Etisalat
KUWAIT |
KUWAIT Dec 1 (Reuters) - Zain (ZAIN.KW) shareholder Al Fawares Holding has filed a suit to halt due diligence in a planned sale of a controlling stake in the Kuwaiti operator to UAE's Etisalat ETEL.AD, a Zain board member said on Wednesday.
Board member Sheikh Khalifa Ali al-Khalifa al-Sabah said Al Fawares, which he said owns about 4.5 percent in Zain, had filed the case against opening the firm's books to Etisalat. A court is due to hear the case on Dec. 8, he told Reuters in an interview. (Reporting by Eman Goma and Diana Elias; writing by Firouz Sedarat)
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