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.
UK renewable energy producer Xlinks, noting significant upward pressure on the cost of all energy projects, has warned that construction of the Morocco-UK Power Project could reach $27bn to $30bn, up ... more
The Moroccan government is in extensive talks to attract more electric vehicle (EV) battery manufacturers to support its growing automotive sector and meet soaring demand, industry and trade minister ... more
United Arab Emirates renewable energy company Masdar has partnered with Uzbekhydroenergo to evaluate the potential of national hydroelectric power storage projects. Masdar and Uzbekhydroenergo, a ... more