Viva and KFH-Bahrain officials at the signing ceremony.
Viva Bahrain completes rival Menatelecom acquisition
MANAMA, December 23, 2017
Viva Bahrain, a leading telecom services operator in the kingdom, said it has entered into an agreement with Kuwait Finance House - Bahrain (KFH-Bahrain) to acquire 100 per cent stake in its rival internet service provider Menatelecom.
This acquisition will significantly enhance Viva’s position in both the consumer broadband and enterprise markets, said a statement from Viva.
It will help Viva complement its offering by leveraging the strong capabilities of Menatelecom in the broadband segment, said the company in a statement.
Commenting on the transaction, Viva Bahrain CEO Ulaiyan Al Wetaid said: "We are excited to announce the acquisition of Menatelecom, a strategic milestone for us in Bahrain’s highly dynamic and competitive telecommunications market."
The acquisition reiterates the telecom operator’s commitment in investing in Bahrain’s economy and contributing to the country’s social progress, he stated.
"The acquisition is in line with Viva’s growth strategy focusing on delivering innovative services, seamless connectivity and value-for-money. The acquisition will allow VIVA to enhance key technical capabilities and foster further product and service innovation," remarked Al Wetaid.
“While we have achieved strong and sustainable growth in the Kingdom of Bahrain over the past seven years, Menatelecom’s successful position in the home broadband segment will be a key growth driver for VIVA.” he added.-TradeArabia News Service
