Wednesday, November 28, 2007

Saudi Telecom's $908 mln bid wins Kuwait mobile stake

KUWAIT: State-controlled Saudi Telecom Co beat off rivals to win a stake in Kuwait's third mobile phone company, bidding 248.7 million dinars ($907.7 million) as it seeks to expand outside its home market. The Saudi firm bought 26 percent of the planned company, which will probably start operations in the second half of next year after the government sells another 50 percent in an initial public offering in February. Read more

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