After Zain finally released its detailed financial statement for its third-quarter earnings (direct link to the PDF here), the regional telecommunication analysts earned their keep by releasing updated analysis reports.
Shuaa Capital's Simon Simonian breaks down the numbers, and what this means for the potential stake sale of Zain to a consortium of Indian and Malaysian firms after the break.
state-owned Bharat Sanchar Nigam (BSNL) is likely to leave the consortium led by Delhi-based Vavasi Group. BSNL allegedly left the consortium over disagreements on Zain's valuation and a new partner is expected to rejoin the deal by the end of the month, the paper says.
