Kuwait Telecommunications Company K.S.C.P. completed the acquisition of Qualitynet General Trading & Contracting Company W.L.L. from Bahrain Telecommunications Company BSC and National Bank of Kuwait S.A.K.P..
May 06, 2019
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Kuwait Telecommunications Company K.S.C.P. (KWSE:VIVA) announced the initial agreement to acquire Qualitynet General Trading & Contracting Company W.L.L. from Bahrain Telecommunications Company BSC (BAX:BATELCO) and National Bank of Kuwait S.A.K.P. (KWSE:NBK) on November 4, 2018. Kuwait Telecommunications Company K.S.C.P. (KWSE:VIVA) signed a share purchase agreement to acquire Qualitynet General Trading & Contracting Company W.L.L. from Bahrain Telecommunications Company BSC (BAX:BATELCO) and National Bank of Kuwait S.A.K.P. (KWSE:NBK) for KWD 28.3 million on April 9, 2019. The price consideration will be determined upon completion of the full transfer of shares and fulfilment of the terms, conditions and covenants agreed between the parties in the SPA. The team at Qualitynet will join VIVA. The deal is subject to necessary regulatory approvals. As of May 6, 2019, Kuwait Telecommunications Company K.S.C.P. (KWSE:VIVA) completed the acquisition of 90% stake in Qualitynet General Trading & Contracting Company W.L.L. from Bahrain Telecommunications Company BSC (BAX:BATELCO) for KWD 25.5 million.
Kuwait Telecommunications Company K.S.C.P. (KWSE:VIVA) completed the acquisition of Qualitynet General Trading & Contracting Company W.L.L. from Bahrain Telecommunications Company BSC (BAX:BATELCO) and National Bank of Kuwait S.A.K.P. (KWSE:NBK) on May 7, 2019.
National Bank of Kuwait SAK (NBK) is a Kuwait-based bank engaged in the provision of banking, financial and investment services. The Bank operates, along with its subsidiaries, through six segments: the Consumer and Private Banking segment provides consumer loans, credit cards, deposits, foreign exchange, other branch related services to individuals and institutional clients; the Corporate Banking segment provides lending, deposits, trade finance, foreign exchange and advisory services to business and corporate customers; the Investment Banking and Asset Management segment provides capital market advisory and execution services, wealth management, asset management, custody, brokerage and research; the Islamic Banking segment serves its clients through its subsidiary, Boubyan Bank KSC; the Group Centre segment includes treasury, investments and other activities, and the International segment includes all branches, subsidiaries and associates outside Kuwait.
Kuwait Telecommunications Company K.S.C.P. completed the acquisition of Qualitynet General Trading & Contracting Company W.L.L. from Bahrain Telecommunications Company BSC and National Bank of Kuwait S.A.K.P..
NATIONAL BANK OF KUWAIT S.A.K.P. 
