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Zain calls for stake size vote
- Kuwait: Monday, August 17 - 2009 at 12:12
Zain has said that it would ask shareholders to vote on cancelling an article of company regulations that prevents any investor from subscribing for more than 1,000 shares, or holding more than 2% of the firm's capital, Reuters has reported. The proposed change, subject to a vote on August 31, would also allow local shareholder firms to own stakes higher than 5%. Last week, al-Rai newspaper, citing unidentified sources, had said that Zain's largest shareholders were in talks with a major Asian telecoms group to sell more than 40% of the firm.
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StaffMonday, August 17 - 2009 at 12:12 UAE local time (GMT+4)
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