Saudi Telecom Co. — M&A Activity 2015

Dec 13, 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 · 13/12/2015 10:02:30 · Announcement #40374 · 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), STC announces that it has received the approval from the Kuwait Capital Markets Authority today to proceed with the acquisition .According to regulations in Kuwait the offer document will be sent to VIVA to be studied by its Board of Directors. STC will announce the details of the offer later.

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