Kuwait-Mubasher: NBK Capital maintained its ‘Buy’ recommendation on Viva stock, with a fair value of KWD 1.080.
The recommendation followed the news spread about Saudi Telecom (STC) seeking 100% of Kuwait's Viva, an acquisition that can be closed by the biggest phone operator in the oil-rich kingdom through purchasing its 74% remaining stake in Kuwait’s leading telecom company, Viva.
The offer is pending approval from Kuwait’s Capital Markets Authority (CMA), according to a statement on Kuwait’s bourse on Thursday.
STC currently owns 26% of Viva, while Kuwaiti government entities own around 23% of the company.
NBK Capital noted that Viva has a market cap of KWD 484 million.
