Saudi Telecom invests in Kuwait mobile firm

Saudi Telecom won a hotly-contested battle for a 26% stake in Kuwait's new third mobile carrier. The Saudi telco will invest about $907.7 million for the stake that was being auctioned by the government, but Saudi Telecom sees great growth opportunity against market leaders Zain and Watinaya, despite the Kuwait mobile market being already highly saturated. The company also is eager to expand outside of its native Saudi Arabia as competition intensifies there.

For more:
- read this story in Arabian Business.com

Suggested Articles

Expect a full dose of Kubernetes at next week's VMworld conference in San Francisco, according to VMware CEO Pat Gelsinger.

If there is indeed a global recession in the offing, no one has told the top cloud and colocation providers.

On the same day as its second quarter earnings, VMware announced it's buying Carbon Black and Pivotal for a combined value of $4.8 billion.