Home / Press & Media / Investor News / KHC Agrees to Extend its Non-Binding offer at the Request of Zain’s Board Until 17:00 Wednesday February 16th 2011

KHC Agrees to Extend its Non-Binding offer at the Request of Zain’s Board Until 17:00 Wednesday February 16th 2011

February 12, 2011

Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud announced on the Tadawul website on 31/01/2011 its non-binding conditional offer to acquire Zains Kuwait stake in Mobile Telecommunications Company Saudi Arabia J.S.C. (Zain KSA) on 31/01/2011; KHC further announced its consent to the extend the period of its offer from ending 17:00 Riyadh Time on Sunday, 13/02/2011 to 17:00 Riyadh Time on Wednesday 16/02/2011, based on the desire of the Board of Directors of Zain Kuwait.

Eng. Ahmed Halawani, Executive Director, Private Equity and International Investments: “Zain Kuwait received a reasonable offer from Kingdom Holding.”