Saudi Telecom Co says it has completed purchase of a further 25.8 percent stake
Saudi Telecom Co (STC) has completed the purchase of a further 25.8 percent stake in Kuwait's Viva, Kuwait's stock market said on Thursday.
STC has "completed procedures to execute the deal to acquire shares in Viva," the bourse said.
Kuwait's Capital Markets Authority had approved the acquisition of 128.86 million shares in Viva, the bourse said in a statement. The purchase price was equivalent to one dinar ($3.34) per share, it said.
The deal raises STC's stake in Viva to 51.8 percent.For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.