Mubasher: Boursa Kuwait announced that no new entity has requested to enter the auction which is scheduled to be held on Sunday, 12 November, to offer a stake of 12.063% in Mobile Telecommunications (Zain) for sale.

The selling procedures between the seller and the primary buyer will be completed once the auction kicks off at 12:55pm Kuwait time on Sunday, according to a bourse statement issued on Sunday.

Earlier on Sunday, Zain said that an agreement was reached between the parties involved in this auction, including National Investments Co as a seller and NBK Capital as a buyer.

Late October, Zain disclosed that Al Khair National for Stocks and Real Estate Co and its subsidiaries and affiliates, Gulf National Holding and Kuwaiti British Readymix Co WLL, have signed an agreement to sell the consolidated stake in Zain to Omantel.