Kuwaiti mobile operator requires funds for expansion
Kuwait Telecommunications Company (Viva) has started talks with banks about raising a $400m loan facility.
The deal will be used to finance the expansion of the firm, which launched in 2008. One Kuwait-based source says the company is still in the early stages of work on the loan, and is currently seeking banks to arrange it.
Both local and international banks are understood to have been approached to take part in the financing.
Viva is Kuwait’s third mobile phone operator and is part owned by Saudi Arabia’s Saudi Telecoms Company (STC).
You might also like...
Partanna and Saudi firm tests carbon negative concrete
25 April 2024
Hassan Allam and Siemens confirm Hafeet Rail award
24 April 2024
UAE builds its downstream and chemical sectors
24 April 2024
Acwa Power eyes selective asset sales
24 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.