Viva, the third mobile phone operator in Kuwait, has taken out a US$270m loan to develop its network.
In a statement on the Saudi Stock Exchange, Viva’s parent company Saudi Telecom said that Huawei had lent the company US$270m to finance the expansion…
Viva, the third mobile phone operator in Kuwait, has taken out a US$270m loan to develop its network.
In a statement on the Saudi Stock Exchange, Viva’s parent company Saudi Telecom said that Huawei had lent the company US$270m to finance the expansion of its network.
Huawei structured the loan as a five-year Shariah-compliant facility. Huawei will carry out the network expansion.
Viva launched its mobile phone services in Kuwait in 2008. Saudi Telecom’s second Middle Eastern venture outside Saudi Arabia, Viva Bahrain, started its services in February this year.
Viva Kuwait competes with Zain, the country’s largest operator, and Wataniya, which is majority-owned by Qatar’s Qtel.