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Zain Saudi Q3 net loss widens
October 16, 2012 / 7:50 AM / 5 years ago

Zain Saudi Q3 net loss widens

RIYADH, Oct 16 (Reuters) - Indebted telecom operator Zain Saudi reported a widening third-quarter net loss on Tuesday, citing a move in call traffic from international to national calls.

Saudi Arabia’s No.3 mobile company, an affiliate of Kuwait’s Zain, made a net loss of 493 million riyals ($131 million) in the three months to Sept. 30. This compares with a net loss of 484 million riyals in the year-earlier period.

In a bourse statement, the company said “the principal reason for the increase in the net loss... has been the rebalancing of significant volumes of traffic from international to national destinations”. (Reporting By Angus McDowall; Editing by Dinesh Nair)

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