STC takes majority stake in Kuwait's Viva

18/02/2016 Argaam

Saudi Telecom Co. (STC) has completed the purchase of a further 25.8 percent stake in Kuwait Telecom Co. (Viva), Kuwait’s stock market said Thursday.

 

The deal raises STC's stake in Viva to 51.8 percent.

 

Kuwait’s Capital Markets Authority (CMA) approved STC’s acquisition of 128.86 million shares in Viva at a purchase price of KWD 1 a share, the bourse said in a statement.

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