Bahrain Telecommunications (Batelco) will likely complete its joint purchase of a quarter-stake in telecoms carrier Zain Saudi within eight weeks, the Bahraini firm's CEO Peter Kaliaropoulos said Wednesday. Kuwait's Zain in March agreed to sell its holding in the affiliate to joint bidders Batelco and Kingdom Holding for $950 million, with due diligence announced in June. “The deal is progressing well and there are no show-stopping issues – we are addressing minor issues when they come up,” he said.
