The law number 2 of 2007 was released on 19 February 2007 to amend the provisions of the law number 26 of 1996 to establish companies for telecommunications services.
The first article states: "The government is committed to the establishment of Kuwaiti Shareholding Company based in Kuwait; its aim is to provide all mobile services, paging system governed by Islamic Sharia and wireless services, in accordance with the guidelines of the Islamic Sharia."
Shares are allocated as follows:
- 24% of shares held by the Government of Kuwait
- 50% offered in an Initial Public Offering ("IPO")
- 26% held by an already established telecom operator
Pursuant to the tender document issued on 23 September 2007 by the Ministry of Commerce for the third mobile telecommunications company in Kuwait, STC bid for 26% of the issued shares of the Company. The bid for the strategic 26% share was closed in November 2007, and awarded to STC.
STC is a leading telecommunication services provider with more than 93 million global customers. Recently, the company has embarked on an ambitious path of strategic growth, expanding its footprints beyond the Kingdom of Saudi Arabia's local borders to international markets, forming a network of businesses and investments in a number of GCC countries, Asia and Africa.
STC now has a presence in Europe, Kuwait, India, Indonesia, Malaysia, Turkey, South Africa and Bahrain. This approach has enabled STC to serve a greater number of its subscribers in line with FORWARD Strategy - one based on a customer-centric approach.
To request a sponsorship from Kuwait Telecommunications Company VIVA, the following information must be provided:
- Date of event, organizers information, contact person, summary of the event, cost and benefit of the event.
- Email us along with any support material to:
*No sponsorship is considered approved upon submission, once the CSR committee approves the request a written confirmation will be provided later on.