Viva Kuwait, currently the subject of a takeover offer from its main shareholder, reported a 9 percent fall in fourth-quarter profit on Sunday.

The Saudi Telecom Company (STC) affiliate made a net profit of KD10.1 million ($33.26 million) in the three months to December 31. This compares with a profit of KD11.1 million in the year-earlier period, according to a statement posted on the Kuwait bourse.

Fourth-quarter operating revenue was KD72.5 million, compared to KD64.9 million a year ago.

Viva competes with Ooredoo Kuwait, a unit of Qatar's Ooredoo, and Zain.

Viva's 2015 profit was 43.0 million dinars, up 6 percent from the same period in 2014, it said in a statement

STC, which owns 26 percent of Viva, in December announced it would offer KD1  per share to buy out Viva's remaining shareholders.

The company's board of directors recommended not to distribute any dividends for 2015, the statement said.  - Reuters