Kuwait's Mobile Telecommunications Company (Zain) announced that it has received a $1.3 billion offer from Invictus Holdings Limited (IHL) - a member of the Dal Group - to purchase the entire The group's share in two companies in Sudan.
The company said in a statement to the Kuwait Stock Exchange, today, Thursday, that it had received a non-binding purchase offer from Invictus to acquire Zain - Sudan and the Kuwait Sudanese Holding Company.
Zain clarified that the company's board of directors decided to give initial approval in the due diligence procedures, and any material developments in this matter will be announced in due course.
It indicated that the previous material information had no impact on the company's financial position or its reflection on the balance sheet at the present time.
Zain's profits rose in the third quarter of this year by 3.4% to 49.492 million dinars, compared to 47.874 million dinars for the same period in 2020.
