Telecom company, Etisalat, has abandoned its $12 billion offer for a large stake in Kuwaiti rival, Zain, The Wall Street Journal reports. The deal if signed, would have given Etisalat access to new markets in the region, including Iraq, Kuwait and Morocco. The deal fell through due to the results of Etisalat’s due diligence process, a lack of unanimity among Zain board members and political unrest in the region, adds The Associated Press. Etisalat launched its original offer worth about $11.7 billion for Zain’s 46% stake in September last year.
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