Jan 04, 2016
Saudi Telecom Company CEO: STC has no intention to increase VIVA's offer price
Dr. Khaled Al Bayari, the CEO of Saudi telecom Company (STC), confirmed that STC is moving ahead with its offer to buy all shares of VIVA, not currently owned by STC, at the announced offer price of KD 1.000 per share. Dr. Al Bayari added that the offer price is based on an extensive study of VIVA’s future business plan, as well as the growth opportunities in the Kuwaiti telecom market and investments needed by VIVA to compete in the market.
Commenting on rumors that STC could potentially increase the offer price, Dr. Al Bayari confirmed that STC has no intention to increase the price. He also explained that since VIVA’s establishment, STC has offered all the technical, financial, and strategic support that enabled VIVA to grow in a very competitive market, benefiting from STC’s experience and status as the largest integrated telecom company in the Middle East.
- STV being established with $500 million from STC
- As first service provider in the Middle East and North Africa, STC announces the successful trial of innovative 5G technologies
- STC Net Income for the 1st quarter increased 5.4% to reach SR 2.5 billion compared to the same quarter last year, and distributes SR 1 per share dividends for the 1st quarter
- Saudi Telecom Company (STC) announces record throughputs in its 4G LTE Network through the successful deployment of Massive MIMO technology, in joint partnership with Huawei.
- Saudi Telecom Company (STC) collaborates with Oberthur Technologies (OT) and Huawei to pioneer solutions around eSIM technologies