The Government of Kuwait has invited bids for a 26 per cent stake in Kuwait’s third mobile company, which is to be set up.

The Government of Kuwait has invited bids for a 26 per cent stake in Kuwait’s third mobile company, which is to be set up.

According to sources, 50 per cent of the stake will be held by the public, 26 per cent by a foreign or a domestic telecom operator, and the rest by the Kuwait government. Around 11 foreign and 14 domestic companies have reportedly shown interest in buying the stake. These include Saudi Telecom, Orascom Telecom, Etisalat, Batelco, Oman Telecom, Turkcell, National Bank of Kuwait, Commercial Bank of Kuwait, Global Investment House and Kuwait Finance House.