* Zain, Etisalat officials met last week-report
* Etisalat declines to comment
(Recasts with Etisalat's comment, adds background, share price)
KUWAIT/ABU DHABI, June 27 Kuwaiti telecoms firm
Zain (ZAIN.KW) is in talks with Abu Dhabi's Emirates
Telecommunications Corp ETEL.AD (Etisalat) about selling a
majority stake in the group, a Kuwaiti newspaper report said on
Both firms held meetings last week to discuss the potential
deal, daily al-Seyassah said.
"Etisalat does not comment on market speculation and
rumours," Ahmed Bin Ali, group senior vice president for
corporate communications at Etisalat told Reuters on Sunday.
The Abu Dhabi operator has said it is looking at options in
India, including taking a 26-percent stake in the country's
second-biggest mobile operator Reliance Communications
On Sunday Reliance agreed to sell its telecoms tower
business to GTL Infrastructure (GTLI.BO) but said it was still
seeking to pursue the sale of a 26 percent stake in the firm.
A Zain spokesman could not be reached for comment on the
Earlier this month Zain's chief executive Nabeel bin Salama
said the firm was not in talks to sell further assets, after it
closed the sale of its African assets, excluding Sudan and
Morocco, to India's Bharti Airtel (BRTI.BO) in a $9 billion
Zain shares were trading down 1.8 percent at 1023 GMT on the
Kuwait bourse, on Sunday while Etisalat shares were trading flat
on the Abu Dhabi bourse.
(Writing by Eman Goma; Additional reporting by Stanley
Carvalho; Editing by Dinesh Nair, Greg Mahlich)