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Zain sued for USD 4.5 bln in damages over Iraqna deal

Monday 21 Apr 2014 | 10:59 CET | News
Mobile operator Zain is being sued for USD 4.5 billion over its 2007 acquisition of an Iraqi telecom operator. Zain bought Iraqna for USD 1.2 billion from Orascom Telecom in December 2007 after the Egyptian firm dropped out of the running for a long-term mobile licence in Iraq. The Kuwaiti firm then merged its Iraqi unit, Atheer, with Iraqna and renamed the entity Zain Iraq, which is now the ...

Zain sued for USD 4.5 bln in damages over Iraqna deal

Monday 21 Apr 2014 | 10:59 CET | News Mobile operator Zain is being sued for USD 4.5 billion over its 2007 acquisition of an Iraqi telecom operator. Zain bought Iraqna for USD 1.2 billion from Orascom Telecom in December 2007 after the Egyptian firm dropped out of the running for a long-term mobile licence in Iraq. The Kuwaiti firm then merged its Iraqi unit, Atheer, with Iraqna and renamed the entity Zain Iraq, which is now the ...

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