“We believe the Batelco Consortium presented a very fair and reasonable offer to Zain Group,” Peter Kaliaropoulos said Batelco Group CEO in a statement said.
“Our offer also involved a significant amount of new cash to be injected into Zain KSA as working capital to accelerate its growth in a highly competitive market. Ensuring that both Zain Group and Zain KSA appropriately benefit was at the core of our offer,” added Kaliaropoulos.
“Negotiations were amicable but we did not reach a suitable deal,” he added.