Kuwait's Kharafi-associated stocks fell on Monday due to the apprehension among the investor that the group's consortium will not be able to finish its deal to sell a 46-percent stake in telecoms operator Zain.

Kharafi, a big Zain shareholder, has struck a deal provisionally to sell the Zain stake to Abu Dhabi’s competitor Etisalat, but there is increasing market discussion that Kharafi has been unable to add ample Zain investors to touch the pre-decided 46%.

The deal also needs Zain to sell its stake in the Saudi affiliate Zain Saudi. Still no formal bids have been let known.

According to Etisalat, the deal could be unsuccessful if the definitive documents were not duly signed within 15th January next year.

According to an unidentified trader from Kuwait, all the concerned people were nervous and tensed over the Zain deal and with every passing minute the picture in getting fainter with them awaiting the affirmation that Kharafi has the 46% and Zain Saudi has been sold off. He added that the Kharafi stocks decreased today and pulled down the remaining market also.