Kuwait poised to select mobile winner
Nine bidders are to compete in a November 27 auction for a 26% stake in the country's third mobile firm.
Nine firms and consortiums have made bids for a stake in Kuwait's new, unnamed, third mobile telephone firm, the company's founding committee said on Wednesday, adding that the winner will be announced on Tuesday.
"The bidders who met the minimum requirements ... will be sent an invitation to participate in a public bid presentation, which will be held on November 27," it said in a statement. "The winning bidder, that has submitted the highest bid for the 26% share, will also be announced."
The bidders include the Arab world's largest telecom firm by market value, Saudi Telecom, UAE's Emirates Telecommunications (Etisalat), and Turkey's Turkcell, the committee said in a statement.
The other bidders are:
A consortium of Bahrain Telecommunications (Batelco) and Investment Dar, Global Investment House; A consortium of Kuwait Finance House, Aref Investment Group and Kuwait and Gulf Link Transport; A consortium of Noor Financial Investment, Petra Jordanian Mobile Telecommunications and the Commercial Bank of Kuwait; Kuwait Cable Vision and Iraq Holding; A consortium comprising National Industries Group and Kuwait Privatization Projects.
The new operator will compete with Zain and National Mobile Telecommunications (Wataniya).