Saudi Telecom grabs Kuwait telco stake for $900mn
Link: Saudi Telecom grabs Kuwait telco stake for $900mn
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State-controlled Saudi Telecom Company won a contest for a stake in Kuwait’s third mobile phone company, bidding 248.7 million dinars ($907.7 million) and beating rivals including Turkcell, Kuwait said. A group including Kuwait Finance House came in second for the 26% stake with a bid of 195 million dinars, and Etisalat third with a 180 million dinar offer, state-owned Kuwait Investment Authority (KIA) said on Tuesday.
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