UBS has got itself into a royal pickle in Kuwait. The Swiss bank is fighting a claim that it failed to pay a local sheikh for helping it secure the $10.7 billion sale of the African subsidiary of part state-owned telecom operator Zain.
UAE telecoms firm Etisalat, bidding for a 46-percent stake in Kuwait's Zain, sees a bank deal to finance the $12 billion offer done by the end of February, it said on Thursday.
Etisalat, the Gulf's largest telecoms firm, saw its bid for Za
UAE's leading telecom operator Etisalat said it was still working to complete a "definitive transaction" with Kuwait-based Zain, despite missing a January 15 deadline for due diligence.
Etisalat in its update on the status of its prop
Even after a news conference gave out names of the buyers planning to purchase a 46 percent stake in Kuwaiti telecom Zain, questions still surround the $13.7 billion deal.
Any large acquisition comes with uncertainties, but rarely does a d