Winner of 26 percent share of Kuwait's 3rd telecom announced Nov 27 --KIA |
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KUWAIT, Nov 22 (KUNA) -- The winning bidder for the 26 percent share of Kuwait's third telecommunications company will be announced by the establishing committee on November 27, according to Kuwait Investment Authority (KIA)Kuwait Investment Authority (KIA)
on Thursday.
A KIAKIA statement said nine bids had been submitted to the establishing committee for the 26 percent share by the closing deadline, which was November 18.
It said the bidders were Saudi TelecomSaudi Telecom; Emirates Telecommunications Corporation (Etisalat)Emirates Telecommunications Corporation (Etisalat); Turkcell; and a consortium comprised of Kuwait Finance HouseKuwait Finance House, AREF Investment GroupAREF Investment Group, and Kuwait and Gulf Link Transport CompanyKuwait and Gulf Link Transport Company.
Bidders also included Batelco Kuwait Consortium comprised of Bahrain Telecommunications CompanyBahrain Telecommunications Company and the Investment DarInvestment Dar; and a consortium comprised of the Noor Financial Investment CompanyNoor Financial Investment Company, Petra Jordanian Mobile Telecommunication Company, and the Commercial Bank of KuwaitCommercial Bank of Kuwait.
The remaining bidders were Dhow Communications Consortium comprised of Kuwait Cable VisionKuwait Cable Vision and Iraq HoldingIraq Holding; Global Investment HouseGlobal Investment House; and a consortium comprised of the National Industries GroupNational Industries Group and Kuwait Privatization Projects Holding CompanyKuwait Privatization Projects Holding Company.
The statement said the establishing committee conducted an evaluation of the bids on November 19, and bidders that met the minimum requirements of Law No. 2 of 2007 and the terms and conditions of the tender document would be sent an invitation to participate in a public bid presentation on November 27.
"The financial bids and bidders will be opened and announced for the first time at this public bid presentation, and the name of the winning bidder, that has submitted the highest bid for the 26 percent share, will also be announced," it said.
It added that the establishing committee expected that the submitted financial bids "have been based on the bidders' evaluation of the market prices and market dynamics."
The establishing committee's role is to conduct the public auction process in a fair and transparent manner and to create a favorable environment for all bidders, it said.
"The committee's role does not include setting any expectations related to the financial bids, or providing any indication on the range of the financial bid amounts," it concluded.
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