Mubasher: Alrai Media Group announced that the board meeting on 7 December approved the extraordinary general meeting’s (EGM) decision to discuss selling the company’s stakes in the 100%-owned subsidiary, Alrai City Real Estate.

No financial impact will be realised in the current time, Alrai Media said in a statement disclosed on Monday.

Alrai Media will later announce the date of the EGM and its business schedule.

Late October, Alrai Media Group incurred a loss of KWD 143,000 in the third quarter of 2017.