Kingdom Holdings has placed its bid to buy Mobile Telecommunications’ 25% stake in Zain Saudi Arabia, Financial Times reports. The Prince Al-Waleed Bin Talal controlled investment firm’s new offer will be open until Feb. 6, 2011.

If the deal goes ahead, it will aid a $12 billion offer made by UAE’s Etisalat for 46% of Zain in Kuwait. Bahrain Telecommunications and Qatar Telecom have also shown interest in the Zain’s Saudi assets. Zain Saudi Arabia’s 25% stake is valued at about $693.21 million, adds Bloomberg.

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