VOL. XLIV

No. 18

30-April-2001

KUWAIT

Kuwait Moves Ahead With Sale Of Government Stake In MTC

The Kuwaiti parliament on 23 April approved the governments decision to sell 113mn shares from its 49.2% stake in Mobile Telecommunications Company (MTC) at KD1.453 ($4.73) per share through an initial public offering (IPO). The decision comes after weeks of heated exchanges between the government and the National Assembly over both the valuation of the MTC sale and the broader principle, with some MPs...