Kuwait-Mubasher: National Mobile Telecommunications (Ooredoo) has acquired a 99% stake in internet service provider FastTelco, according to a bourse statement on Wednesday.
Ooredoo inked the KWD 11 million ($36.42 million) deal on Tuesday night after negotiations announced earlier that day.
Meanwhile, the Kuwait-listed firm clarified that the remaining 1% in the acquiree, which operates in Kuwait and regionally, is owned by Bahraini firm Al Wataniya Gulf Telecommunications Holding.
