Forgot your password?



Back to login

Kuwait approves Saudi Telecom takeover plan for Viva
December 14, 2015, 8:41 am
Share/Bookmark

Kuwait's Capital Markets Authority (CMA) has approved Saudi Telecom Co's (STC) plan to acquire all the shares of its Kuwaiti affiliate Viva, the market regulator said on Sunday.

CMA approval is pending certain conditions being met, it said in a bourse statement, but did not provide further details.

In November, STC revealed it had submitted an offer to raise its stake in Viva to 100 percent. Saudi Arabia's former monopoly presently owns 26 percent of Viva.

Viva, which competes with Zain and Ooredoo Kuwait , listed on Kuwait's bourse in December 2014, nearly six years after it completed an initial public offer of shares.

Source: Reuters

Share your views
CAPTCHA
 

"It is hard to fail, but it is worse never to have tried to succeed."

"Envy comes from wanting something that isn't yours. But grief comes from losing something you've already had."

Photo Gallery