The board of directors of Kuwaiti mobile operator Viva advised shareholders not to accept the takeover bid offered by Saudi Telecom Company (STC), Viva said in a statement posted on the bourse website. Last week, STC made a non-binding offer to purchase the remaining shares of Viva that it does not own for KWD1 per share valuing the stake at KWD369.5mn ($1.21bn). Prior to the offer, STC owned 26% of Viva’s shares with a further 6% belonging to Kuwait Investment Authority, another 10.6% stake held by the Public Institute for Social Security and the rest freely traded on the stock exchange.
The United Arab Emirates’ (UAE’s) global port operator Dubai Ports World on March 24 signed two framework agreements to acquire stakes in Kazakhstan’s two Special Economic ... more
The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more
Algerian national energy company Sonatrach has struck a deal with Turkey's Ronesans and Bayegan to build a petrochemical plant worth $1bn in Turkey, Turkish President Recep Tayyip Erdogan said on ... more