Batelco makes bid for Zain telecoms Saudi stake

Kuwaits Zain telecom has said that Batelco has submitted a non-binding offer to buy its 25% stake in Zain Saudi Arabia, AFP has reported. Batelco said the offer was valid until February 16 and was subject to due diligence. Our offer is subject to due diligence and a number of terms and conditions, including approvals from regulatory authorities ... Our offer remains valid till 16 February 2011, Batelco said in a statement. A consortium led by Kuwaits Zain telecom won the third Saudi mobile licence in 2007 for $6.1bn.