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Zain wins court ruling

Kuwait City, October 25, 2007

Kuwait's Zain (formerly MTC), the third-largest Arab telecom company by market value, said on Thursday it won a court ruling against the government.

It did not say what the case was about but al-Watan newspaper said in an unsourced report the ruling related to charges for pre-paid calls.

Zain will get more than 10 million dinars ($36 million) in a settlement, which will be included in this year's profit, the newspaper said.

The court rejected a Ministry of Communications appeal against an earlier ruling in the case, Zain said in a statement on the Kuwait stock exchange Web site. The ministry will pay all costs, Zain said.  -Reuters 




Tags: Telecom | MTC | Zain |

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