Kuwait telco deadline extended

The deadline for companies interested in investing in Kuwait's third mobile operator has been extended to August 7.

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By  Michele Howe Published  August 1, 2007

The deadline for companies interested in investing in Kuwait's third mobile operator has been extended to August 7.

The original deadline for companies responding to the request for intent (RFI) providing details on the public auction process was July 31.

The committee responsible for the formation of the telco first invited expressions of interest from firms early last month.

A 26% share in the operator is currently on offer to foreign firms and local non-telecom companies. The remaining ownership of the operator is to be split between the government (24%) and an initial public offering (50%), which is expected to take place in December.

The new operator will compete with existing players Mobile Telecoms Company (MTC) and Wataniya.

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