RIYADH, March 23 Zain Saudi, Saudi
Arabia's struggling third-largest telecoms provider, has
appointed Fahd bin Ibrahim al-Dughaither as its new chairman, it
said on Saturday, without elaborating.
The affiliate of Kuwait's Zain, reported a 2012
net loss of 443 million riyals ($118.1 million) and has extended
the maturity of a 9 billion-riyal Islamic loan seven times since
Its statement on Saturday, posted on the website of the
Saudi bourse, did not give any further information about
The company is competing against better-resourced Saudi
Telecom Co, the former monopoly holder, and Mobily
, an affiliate of United Arab Emirates' Etisalat
, which dominate the market.
Parent-firm Zain in July increased its stake in Zain Saudi
to 37 percent from 25 percent after underwriting the affiliate's
(Reporting By Angus McDowall; Editing by Sanjeev Miglani)