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    Vodafone eyeing stake in Kuwait's Zain: paper

    DUBAI
    Thu Jan 17, 2008 1:18am EST

    Stocks

       

    DUBAI (Reuters) - Vodafone Group Plc VODA.L and another telecom company are considering buying a stake Kuwait's Mobile Telecommunications Co (ZAIN.KW) (Zain), a Kuwaiti newspaper reported on Thursday, citing unnamed sources.

    A foreign bank was in initial talks with a Zain shareholder on behalf of Vodafone and another telecom firm it identified in Arabic as "Telecom Telecommunications", al-Seyyasah newspaper reported.

    The price being discussed was around 8 dinars ($29.32) per share, the paper said. Zain's stock last traded at 4.320 dinars.

    Zain, the third largest Arab telecom company by market value, said in a statement it was not aware of any such talks.

    (Reporting by Inal Ersan; editing by Dayan Candappa)


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