Zain KSA amends management agreement with Zain Group; new terms to serve both parties

12/03/2023 Argaam
Logo ofZain KSA

Logo of Zain KSA

Mobile Telecommunication Company Saudi Arabia (Zain KSA) amended the management agreement converting it to a brand support agreement with new terms serving the long-term strategic goals of both parties.

 

In a statement to Tadawul, the company said the amendment came in light of operational and financial performance improvements.

 

The move will reflect in positive financial results of Zain KSA in the future, the statement said, adding that the new agreement will expire on Dec. 31, 2032.

 

The decision was taken by the board of directors unanimously after excluding the related parties.

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