In December last year, STC received approval from Kuwait’s regulator, Capital Markets Authority (CMA), to acquire all the shares of Viva.
STC had held a 26% stake in Viva since its establishment in 2008, and has now acquired the remaining 25.8% of shares for $425 million.
Viva is Kuwait’s third mobile player after Zain and Qatar’s Ooredoo, with a customer base of 2.4 million.
