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

To the surprise of perhaps no one, AWS has a bone to pick about the Pentagon choosing Microsoft for its $10 billion JEDI cloud contract.

Mediacom Communications it now has more than 50,000 combined residential and business customers subscribing to its 1 Gigabit service offerings.

As 2019 draws to a close, FierceTelecom is announcing this year's list of top technology disrupters.