On Sunday UAE telecommunications major Etisalat held that it is interested to buy a 46 per cent stake in Kuwait's telecommunication company Zain from a association which is headed by a major Zain shareholder.

An Etisalat spokesperson declared that the 46 per cent uncertain deal is still on as this has been agreed upon in the primary proposal.

The spokesperson informed that there is simplicity and best practice in Etisalat especially when it comes to discovery of reports to the financial markets, shareholders and analysts.

Moreover he added that whenever there is something to be revealed, Etisalat informs its stakeholders with the grades openly.

Abu Dhabi-based Etisalat agreed a $12-billion (Dh44.13 billion) deal with a group which was directed by major shareholder Kharafi Group. This was done so as to buy the Zain stake.

Yet there are some gossips that the association is struggling to engage enough shareholders so that they can acquire the 46 per cent entrance. Etisalat has planned to buy shares directly from other shareholders or on the open market so as to reach 46 per cent.