Kuwait-Mubasher: Saudi Telecom Company (STC) has finalised a voluntary acquisition of Kuwait Telecommunication (Viva) on Thursday, the Kuwait Stock Exchange said in a statement.
The statement clarified that STC has acquired 128.86 million shares of Viva or 25.8% of the Kuwaiti telco’s capital, with a total value of KWD 128.86 million ($430.1 million).
STC succeeded in raising its stake in Viva to 51.8% from 26%, after 128.8 million shares responded to the takeover offer.
