Kuwait telco deadline gets 2nd extension

Kuwait gives extra month for companies interested in investing in 26% stake of new mobile operator.

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By  Michele Howe Published  August 6, 2007

The committee responsible for the formation of Kuwait's third mobile operator has again extended the deadline for the initial response by companies interested in bidding for the 26% stake on offer.

The deadline for a response to the request for intent (RFI), first announced July 10, has now been pushed back to September 7, according to the Kuwait Investment Authority website.

The deadline was originally set for July 31, and then later, as previously reported by ITP.net, extended to August 7.

No reason was given for the deadline extension.

Kuwait is currently offering a 26% share in the operator under formation 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 on the Kuwaiti mobile telecommunications services market.

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