Viva Bahrain completes rival Menatelecom acquisition

24/12/2017 05:48 AST

Viva Bahrain, a leading telecom services operator in the kingdom, said it has entered into an agreement with Kuwait Finance House - Bahrain (KFH-Bahrain) to acquire 100 per cent stake in its rival internet service provider Menatelecom.

This acquisition will significantly enhance Viva's position in both the consumer broadband and enterprise markets, said a statement from Viva.

It will help Viva complement its offering by leveraging the strong capabilities of Menatelecom in the broadband segment, said the company in a statement.

Commenting on the transaction, Viva Bahrain CEO Ulaiyan Al Wetaid said: "We are excited to announce the acquisition of Menatelecom, a strategic milestone for us in Bahrain's highly dynamic and competitive telecommunications market."

The acquisition reiterates the telecom operator's commitment in investing in Bahrain's economy and contributing to the country's social progress, he stated.

"The acquisition is in line with Viva's growth strategy focusing on delivering innovative services, seamless connectivity and value-for-money. The acquisition will allow VIVA to enhance key technical capabilities and foster further product and service innovation," remarked Al Wetaid.

"While we have achieved strong and sustainable growth in the Kingdom of Bahrain over the past seven years, Menatelecom's successful position in the home broadband segment will be a key growth driver for VIVA." he added.


Trade Arabia

News

Viva Bahrain launches mobile wallet

28/03/2018

Viva Bahrain has launched Viva Cash, a groundbreaking new application offering consumers the very latest secure and convenient digital mobile wallet for everyday payments.

The announcemen

Trade Arabia

Viva Bahrain unveils new connectivity technology

18/03/2018

Viva Bahrain, a top telecom provider, has announced the launch of Viva Skyfi, the latest technology introduced in Bahrain, offering high speed data and connectivity services for enterprises.

Trade Arabia

VIVA Bahrain wins 'Pioneer Marketers Award' for Best Comedy Advert

15/03/2018

VIVA Bahrain has won the region's prestigious 'Pioneer Marketers Award' for Best Comedy Advert, at the concluding awards ceremony of the fifth Saudi Marketing Conference held in Riyadh.

Th

Biz Bahrain

Most Viewed Companies

Ticker Price Volume
NAYIFAT 13.94 229,739
ALRAZI 43.00 800
RIBL 24.84 6,676,931
ALRAJHI 85.00 7,711,297
ABC 0.35 370,000
A.OTHAIMMARKET 11.90 545,416
ZAINKSA 10.82 1,868,409

Valuation

STC.KW Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Top Related Companies

Ticker Price Change
EAND 18.62 0.02 (0.10%)
ORDS 11.27 -0.18 (-1.58%)
ZAIN 477.00 5.00 (1.05%)
OOREDOO 1,051.00 12.00 (1.15%)
VFQS 1.83 -0.02 (-1.03%)

Recent News

EEC's capital optimization plan to shore up financial position and sustain growth: CEO

14/09/2024

RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <

Saudi Gazette

Arabian Mills set final IPO price at $17.59 per share as CEO details growth vision

12/09/2024

Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces

Arab News

SABIC-MCC joint venture starts output

04/05/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

logo

Financial Information Co.

(MITCO), P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap