Kuwait Investment Authority (KIA), the country's sovereign wealth fund, may sell its 24.6 percent stake in telecoms firm Zain, according to a newspaper report on Monday.

Daily Al-Qabas, citing unidentified sources, said KIA has asked several investment firms to conduct technical studies on Zain group. The fund would then consider options to either sell its stake to a strategic investor or through an auction.   

KIA's stake is currently worth about $4.5 billion, the paper said.   

The mobile operator struck a deal in March to sell its operations in 15 African countries to India's Bharti Airtel. Last week, it said it will distribute a large portion of proceeds from the $9 billion asset sale to shareholders.

In October, KIA's managing director Bader Al-Saad said the fund might sell its Zain stake if the price is right. He had said that 2 dinars ($6.87) per share was a "good price".

Zain shares, halted on Sunday pending the distribution of its 2009 dividend, last traded at 1.34 dinars.  -Reuters