Saudi Arabia Takes Over Viva

Kuwait's Capital Markets Authority (CMA) has approved Saudi Telecom Co's (STC) invention to start all the shares of its Kuwaiti affiliate Viva, the marketplace regulator said on Sunday.

CMA approving is pending for certain atmospheric condition beingness met, it said inwards a bourse statement, merely did non supply farther details.

In November, STC revealed it had submitted an offering to heighten its stake inwards Viva to 100 percent. Saudi Arabia's quondam monopoly shortly owns 26 per centum of Viva.

Viva, which competes amongst Zain in addition to Ooredoo State of Kuwait , listed on Kuwait's bourse inwards Dec 2014, close 6 years subsequently it completed an initial world offering of shares.

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