The board of Kuwaiti telecom Zain will meet on Sunday to discuss opening the company's books for due diligence by UAE's Etisalat which has offered to buy 46 percent of the company.

The bourse said in a statement the meeting will take place Sunday morning and it will update the stock exchange with any developments. 

In September, Etisalat offered to buy a 46 stake in Zain for 1.7 dinars a share, in a deal worth just under $12 billion.

Etislast said on Wednesday it was making any deal dependent on the sale of Zain's Saudi assets. - Reuters