Saudi Telecom Co. — M&A Activity 2015

Dec 14, 2015

Addendum announcement from Saudi Telecom Co. regarding the submission of a voluntary tender offer (VTO) to acquire the shares of Kuwait Telecommunication Company (VIVA).

7010 · 14/12/2015 08:04:20 · Announcement #40389 · View on Saudi Exchange

Addendum announcement from Saudi Telecom Co. regarding the submission of a voluntary tender offer (VTO) to acquire the shares of Kuwait Telecommunication Company (VIVA).

Further to STC announcement published on Tadawul website on 19/11/2015 regarding its submission of a VTO to acquire the shares of VIVA not already owned by STC representing 74% of VIVA total outstanding shares (499.4 million share), and its further announcement on Tadawul website on 13/12/2015 of the Kuwait Capital Markets Authority approval of the offer, STC announces that it has received the approval from the Kuwait CMA to publish the offer document at an offer price of KD 1 per share (equivalent to SR 12.37 per share).

The offer period will be starting from 27/12/2015 until 31/1/2016, after which STC will be able to announce the exact number of shares which accepted the offer and confirm the total consideration to be paid.

The offer document will be available on STC website (www.stc.com.sa).

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