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Viva seeking $400m loan for expansion
- Kuwait: Tuesday, October 09 - 2012 at 03:59
Kuwaiti telecoms operator Viva, part-owned by Saudi Telecom Co (STC), is seeking to secure a $400m loan aimed at expanding its existing capabilities, Reuters has reported, citing two banking sources familiar with the matter. "They (Viva) have shown considerable progress since inception which is admirable for a regional telecoms player. Banks who commit the maximum balance sheet are most likely to be called in," the source said. "The loan will be used to boost network capabilities, roll-out new products and boost its current services."
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