Monday, Jan 24, 2011
BEIRUT (Zawya Dow Jones)--Kuwait Projects Co. (Holding), or Kipco, the country's largest investment holding company by assets, doesn't currently intend to sell part of its stake in Orbit Showtime Network, or OSN, in a public offering, Kuwait-based Al Watan daily reported Monday, citing Kipco Vice-Chairman Faisal Al Ayyar.
If it looks into this matter, Kipco must first seek the approval of its partners and then inform the concerned authorities, according to the paper.
OSN is a digital satellite pay television resulting from the merger of Kipco's Showtime with the Orbit group, the daily reported.
Orbit was a unit of Saudi Arabia's Mawarid Holding, which is now Kipco's partner in OSN, according to Zawya.com data.
Newspaper website: http://alwatan.kuwait.tt/ArticleDetails.aspx?Id=84293
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
(END) Dow Jones Newswires
24-01-11 0431GMT
