ABQI buys stake in Kalaam

Dubai: ABQ Investments Ltd (ABQI), the private investment group and majority owner of information services provider Zawya, yesterday announced its acquisition of a significant minority stake in Bahrain-based Kalaam Telecom (Kalaam).

ABQI partnered with Ali Zaid Al Quraishi & Brothers Co, a Saudi-based company, to acquire the minority holding. Saffar Capital, a boutique investment and advisory firm focused on the development and sourcing of early stage investment opportunities in growth sectors advised the consortium partners in the deal.

The deal adds a full services telecoms provider to ABQI's portfolio. Kalaam offers voice, internet, data and value-added services to some 31,000 residential and business customers.