Batelco, the regional telecommunications group with operations across 14 countries, has announced it has signed a Share Purchase Agreement (SPA) with the Kuwait Telecommunications Company, also known as VIVA, to sell its 90% shareholding of its Kuwait subsidiary, QualityNet General Trading and Contracting Company W.L.L (QualityNet).
The price will be determined upon completion of the full transfer of shares and fulfilment of the terms, conditions and covenants agreed between the parties in the SPA.
QualityNet’s shares will be transferred to VIVA after obtaining the necessary regulatory approvals in the State of Kuwait.
QualityNet describes itself as Kuwait’s number one ICT, Data, Internet and Enterprise Services provider, serving both corporate and residential customers.
The company was established in 1998 and is committed to the technological development of Kuwait and to serve the interests of the nation.