Saudi Regulator Halts Trading In Telcos Mobily And Zain Saudi

Mobily and Zain Saudi are embroiled in a money dispute.

Saudi Arabia’s bourse regulator has suspended share trading in two telecommunications operators – Mobily and Zain Saudi – that are embroiled in a money dispute, it said on Tuesday.

The decision by the Capital Market Authority follows a Mobily statement that it had asked for arbitration about money it claims it is owed by smaller rival Zain Saudi.

Trading in the two companies will be suspended on Tuesday only, the CMA statement added.