STC offers KWD1 per share in Viva Kuwait buyout

14 Dec 2015

Saudi Telecom Company (STC) has received the approval of the Kuwaiti Capital Markets Authority (CMA) for the buyout of 74% of Kuwait Telecom Company’s (Viva’s) total outstanding shares at a price of KWD1 (USD3.3) per share. The cost of purchase will be funded by self-financing, with STC disclosing that the offer period will run from 27 December 2015 until 31 January 2016.

According to TeleGeography’s GlobalComms Database, Viva is owned by STC (26%), the Government of Kuwait (24%) and the Kuwaiti public (50%). In December 2011 STC announced that it was set to list Viva’s shares on the Kuwait Stock Exchange (KSE). National Bank of Kuwait (NBK) Capital was selected to manage the listing, which took place on 14 December 2014, with a total of 499.4 million shares offered to domestic investors. Viva previously staged an initial public offering (IPO) in July 2008, going on to raise KWD25 million in a sale open to Kuwaiti nationals only.

Kuwait,Saudi Telecom Company (STC), Viva (Kuwait Telecom Company),


Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate


Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.