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Etisalat is not expected to come to a positive agreement regarding the acquisition of a stake in Zain’s remaining Middle East telecom operations, according to most market sources.
Abu Dhabi-listed Etisalat signed a non-disclosure agreement to study Zain’s assets last month and negotiations are on-going. However, Etisalat is focused on buying controlling stakes in businesses that can contribute positively to its EBITDA and sources suggest that this transaction will be difficult to fulfil in those terms.  


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