Zain Saudi parent pays Motorola USD231.4m

(MENAFN) Kuwait's top telecoms firm Zain has paid USD231.4 million to Motorola on behalf of its struggling Saudi unit to cover services costs, Reuters reported. Zain said in a statement that the amount paid covers services that Motorola had provided to Zain Saudi in 2009 and agreed to pay at a later stage. The move comes to ease the financial burden on the Saudi unit and to support the company's operations, it added. Zain Saudi has not made a quarterly net profit since launching operations in 2008 and extended the maturity of a USD2.40 billion Islamic loan for another 21 days last month.