Viva agrees to purchase Qualitynet

5 Nov 2018

Mobile operator Viva Kuwait has signed an initial agreement to purchase the entire share capital of Kuwaiti ISP Qualitynet from current owners Batelco and National Bank of Kuwait (NBK), reports Forbes Middle East. Bahrain-based Batelco entered the ownership of the Kuwaiti fixed broadband operator in 1999 and took majority control in 2014, but has now reached a share transfer agreement with NBK and Viva (controlled by Saudi Telecom Company) with a deal price to be established upon completion ‘subject to satisfaction and fulfillment of certain conditions’, and pending the necessary regulatory approvals.

According to Batelco’s 2018 half-year financial results announcement, Qualitynet gained two large lucrative customer contracts in Q2.