Cukurova is seeking to acquire a large stake in Kuwaiti telecoms operator, Zain, Financial Times reports. The Turkish conglomerate is in talks with Kuwait’s Al-Fawares Holding that owns 4.5% of Zain and opposes a $12 billion bid from Etisalat. The proposed price and the stake size have not been determined. The Cukurova group is owned by Mehmet Emin Karamehmet that has a controlling stake in Turkish mobile operator, Turkcell.
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