Kuwait Telecom sale begins on 22 August (Kuwait)
STC’s subsidiary in Kuwait is selling off a 25% stake worth KWD25 million (USD93 million).
The sale, reportedly, will begin on 22nd August, will come as a part of the deal agreed when STC was awarded Kuwait’s third national GSM licence in November 2007.
Kuwait Telecom, will also a 25% interest to government-backed institutions including the Kuwait Investment Authority and the Public Institute for Social Security. STC’s local partners will receive a 24% stake while the Saudi telco will retain a 26% share.
