STC sets offer price for Kuwait Viva takeover

STC seeks full control of successful Viva Kuwait unit
STC sets offer price for Kuwait Viva takeover


Saudi Arabia’s STC Group will offer 1 dinar ($3.30) per share to buy out other shareholders in its Kuwaiti affiliate Viva, which works out at a 9% discount on Viva's last closing price, Reuters reported.

STC has received approval from Kuwait's market regulator for the takeover offer, with the buyout period open from December 27 to January 31, the statement said.

STC, which owns 26% of Viva, is seeking full control of its unit, which launched services in 2008.

Viva's shares plunged after STC announced its offer price in a statement to Riyadh's bourse, although the bid document states that the offer represents a 14% premium to Viva's three-month volume weighted average price, the report added.

Webinar #2 | Register to attend - Intergenerational signalling consolidation for the 5G era

Join CommsMEA, Deutsche Telekom and NetNumber as they explore opportunities for intergenerational signalling consolidation for the 5G era. The webinar is free but can only be accessed by registering below in advance.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story