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.
Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more
Passengers boarding an early morning July 5 Turkish Airlines (THY) flight to John F Kennedy International Airport in New York were allowed to include laptops and electronic devices larger than a ... more