STC receives approval from Kuwait Capital Market for acquisition of VIVA Company's Shares

Riyadh, Rabi’I 02, 1437, December 13, 2015, SPA — Further to Saudi Telecommunication Company’s (STC) announcement published on Tadawul website on 19/11/2015 regarding its submission of an optional offer to acquire the shares of VIVA not already owned by STC representing 74% of VIVA total outstanding shares (499.4 million shares), STC announces that it has received the approval from the Kuwait Capital Markets Authority today to proceed with the acquisition. According to regulations in Kuwait the offer document will be sent to VIVA to be studied by its Board of Directors.
The company said in a statement posted on the Saudi capital market, “Tadawul” today, noting that it will announce the details of the offer later.
–SPA
13:01 LOCAL TIME 10:01 GMT