Thursday, 22 April 2010

DIFC Court to Hear Case by Amwal AlKhaleej Against Abdullah Brothers

The National reports that the DIFC Court has rejected a motion by counsel for the Abdullah Brothers to the DIFC Court to dismiss the case for lack of jurisdiction.

Earlier post here.
Posted by Abu 'Arqala at 4/22/2010 04:37:00 am
Labels: , , ,

2 comments:

The Rageful Cynic said...

Not related to the post:

Turkish company eyes Zain stake - Reuters >>>

http://in.reuters.com/article/rbssTechMediaTelecomNews/idINLDE63L09620100422

Man, Saad Al Barrak's head must be exploding....

just a thought > you should put a spot on the homepage where readers can put links they want you to see and/or comment on (hint hint) :)

22 April 2010 at 10:25
Abu 'Arqala said...

TRC

Sorry for the belated response.

Interesting suggestion. I'm not sure how to set up a request link but will ask someone I know who is more expert than I am.

As to report on Zain this is pretty vague, AlQ reports an unnamed Turkish company is in preliminary stages of exploring an investment (the size of which is not yet determined) and has not yet approached Zain shareholders.

I'm not sure what Saad's reaction would be. He was about building Zain into a "world" brand. Hence the name change which while Arabic is something that could travel outside the area. So unless this was a stepping stone to expansion not sure he'd be interested.

As I see it, the major strategic issue for Zain is the cash needs of its shareholders. Do they want to milk the cow they have? Or increase the size of the herd (expansion) and where?

As a company with a small domestic market, Zain is in a tricky position. It's hard to really grow at home. So does it look overseas? Where? And how to avoid overpaying for growth?

Not knowing who the Turkish investor is or the stake they want, it's hard to say how their entry might affect Zain.

Clearly, if the cash needy current shareholders in Zain sell all or a significant portion of their shares, then a new corporate strategy may be in the works.


Anyways, here's the AlQabas article.

http://www.alqabas.com.kw/Article.aspx?id=597618

24 April 2010 at 04:05

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