Kuwaiti telecom operator Zain announced its latest acquisition of the privately-owned Mada Communications Group, a Kuwait-based wireless internet and converged telecoms services provider. Newswires indicated that talks with regards to this latest acquisition deal of Zain initiated a few months ago and the agreement is likely to be closed soon.
Zain was established in 1983 as the region's first mobile operator, and then initiated its expansion strategy in 2003. Today, Zain's commercial footprint encompasses seven countries within the MENA region, namely Zain Bahrain, Zain Jordan, Kuwait, Iraq, Saudi Arabia and Sudan as Zain, and in Lebanon as mtc touch (under a management contract).
The article above has been published as a part of Bank Audi`s MENA Weekly Monitor of Week 47 (2011). It can be accessed via Internet at the following web address: http://www.banqueaudi.com