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Kuwait-headquartered telecom group Zain (ZAIN.KW) said on Thursday it has received a non-binding $1.3 billion offer from Invictus Holding Ltd for Zain Sudan and Kuwait Sudanese Holdings.
Zain’s board has agreed to complete the necessary due diligence on the offer to provide its initial approval, it said in a bourse filing.
Zain said Invictus Holding Ltd was a subsidiary of Dal Group, without providing further details.
The offer does not include Zain’s South Sudan business.
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