Batelco signs share purchase agreement for transfer of Qualitynet to Viva Kuwait

10 Apr 2019

Batelco has signed the Share Purchase Agreement (SPA) to sell its 90% stake in Kuwaiti ISP Qualitynet to mobile operator Viva Kuwait, confirming a deal which was initially struck in November 2018. CommsMEA reports that the final price will be determined upon completion of the share transfer and fulfilment of the terms, conditions and covenants agreed in the SPA, dependent on obtaining the necessary regulatory approvals.

Viva Kuwait (controlled by Saudi Telecom Company) signed an initial agreement in November to purchase the entire share capital of Qualitynet from Batelco (90%) and National Bank of Kuwait (10%).