Kuwait – Mubasher: Ooredoo Kuwait fulfilled all requirements to obtain the regulatory approval for purchasing a 99% stake in the internet service provider FASTtelco, according to a bourse filing.
Ooredoo has paid 80% of the acquisition deal, without revealing the total cost of the agreement.
The remaining 1% stake in FASTtelco is owned by Ooredoo’s subsidiary Al Wataniya Gulf Telecommunication Holding.
In the second quarter, Oooredoo achieved KWD 9.07 million profits, compared with KWD 12.6 million for the year-ago period.
