Zain Iraq to appeal $262 mln gov't fine

The Iraqi unit of Kuwait-based telecoms firm Zain (ZAIN.KW) will appeal a US$262 million government fine for breaching its license, its chief executive said on Tuesday.
“Yes, definitely we will appeal,” Zain Iraq CEO Emad Makiya told Reuters. “They have no right to issue such a penalty.” A fine was imposed on Zain by Iraq for putting 5 million Sim cards in the local market without permission, the country’s Communications and Media Commission said earlier on Tuesday