The consortium has been formed following approaches by several potential purchasers who have expressed an interest in buying KIPCO's shares in Wataniya.
In a letter to the Kuwait Stock Exchange sent today (Thursday, 22nd February), KIPCO explained that a group of Wataniya shareholders have formed the consortium and that the consortium holds a total of 51% of Wataniya's capital.
The consortium has delegated responsibility for negotiation of a possible sale of its holdings in Wataniya to KIPCO's management.
KIPCO also explained that a contract to sell Wataniya has not yet been finalized.
KIPCO announces Wataniya shares sale consortium
KIPCO - the Kuwait Projects Company - has announced the formation of a consortium of Wataniya shareholders to consider the sale of the consortium's holdings in Wataniya (National Mobile Telecommunication Company).
- Kuwait: Saturday, February 24 - 2007 at 10:49
- PRESS RELEASE
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The KIPCO Group is one of the biggest diversified holding companies in the Middle East and North Africa, with assets worth more than US$ 18 billion under management or control. The Group has substantial ownership interests in a portfolio of 54 companies operating across 17 countries. The company's main business sectors are financial services and media & telecommunications. Through the subsidiaries and affiliates of its companies, KIPCO also has interests in Industry, Healthcare, the Management & Advisory sector and Real Estate.Further information:
Ahmad Al Ajeel
Vice President +965 244 0853
Marketing/ R&D/ PR
Robert Hipkins
Group Communications Director
+965 635 6969
Posted by Lara Lynn Golden, News EditorSaturday, February 24 - 2007 at 10:49 UAE local time (GMT+4)
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