Reuters - Viva Kuwait reported a more than six-fold rise in annual profit on Monday as the mobile telecommunications operator increased its customer base by a third.
The Saudi Telecom Co (STC) affiliate made a net profit of
Viva, which competes with Zain and
This increase has boosted its market share to 33% from 29%, the company said.
Viva, which launched operations in 2008 and turned profitable in 2012, said its annual revenue rose 33% to
STC owns 26% of Viva, while Kuwait’s government holds 24%.
Viva sold the remaining 50% in a
In its annual report, Viva said it applied to the
The CMA could not be immediately reached for comment.
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