Kuwait approves third mobile operator

50 percent of new company will be sold to the public

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By  Vineetha Menon Published  July 22, 2008

Communications minister Abdulrahman Al-Ghunaim told state news agency KUNA that the cabinet has approved plans for a third mobile operator in Kuwait.
Saudi Telecom, which last year won the third mobile license, will hold a 26 percent stake in the new company. 50 percent would be sold in an initial public offering to citizens and the remaining 24 percent will be retained by the government.

The new company, which is expected to launch operations later this year, will be competing with Mobile Telecommunications Co (Zain) and National Mobile Telecommunications Co (Wataniya), a unit of Qatar Telecommunications Co (Qtel).

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