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Etisalat still finalising $12bn Zain stake purchase

Etisalat has said it is still working to complete a "definitive transaction" to buy a stake in Zain for $12bn, despite missing a January 15 due diligence deadline, Reuters has reported. The company cited "unforeseen delays in Zain providing access to all relevant information," as the reason behind missing the deadline. "The parties do continue to work towards the announcement of a definitive transaction," Etisalat said in a statement.