By: Ahmad Awad
Kuwait-Mubasher: The estimated price offered by Saudi Telecom (STC) to purchase Viva’s entire shares is ranging from KWD 1.06 to KWD 1.08 each; the same market price of the stock, sources have told Mubasher.
Sources added that the offer’s total value stands at KWD 400 million ($1.3 billion).
NBK Capital previously set Viva’s fair value at KWD 1.08, with a ‘Buy’ recommendation.
It is noteworthy that on Thursday, the Public Institution for Social Security has raised its stake in Viva by 0.55% to 9.73%.
STC already owns 26% of Viva’s stocks and is taking tangible steps to take over the entire shares remaining in the Kuwaiti company.
