Etisalat to sell 92.3% stake in Canar to Zain for $95m

Dubai: Kuwait telecom firm Zain has agreed to buy a 92.3 per cent stake in Canar Telecommunication Company Limited (Canar) from Etisalat for Dh349.6 million. The Abu Dhabi-listed company said in a bourse statement that the transaction remains subject to certain conditions, including the approval of the Sudanese National Telecommunications Corporation and the Sudanese competition authorities.