VIVA Bahrain to acquire Menatelecom
MANAMA: The telecom watchdog has given approval to VIVA Bahrain for its proposed acquisition of Menatelecom, it has emerged.
In a decision posted on its website, the Telecommunications Regulatory Authority (TRA) said after a process of open consultation and discussions with various parties it concluded that VIVA’s plans complied with the necessary regulations.
The statement said the TRA first received notification from VIVA on August 17 of its proposal to acquire 100 per cent of the common equity of Menatelecom WLL.
The TRA then invited comments from third parties on the plan, which saw Batelco flagging concerns about the market share of the combined entity, concentration of spectrum and inconsistency with the single policy network objective under National Telecom Plan 4.
This led to the regulator raising “serious doubts” about VIVA’s ability to meet the requirements set out for mergers and acquisitions.
A meeting between the TRA and VIVA last month saw discussions on the contentious issues surrounding the deal.
Having received the required assurances, TRA said it decided to give approval to the deal while attaching certain conditions to the merger, including that VIVA Bahrain (and/or the combined entity) must comply with the terms of Menatelecom’s existing licences and that it must consult with the TRA on the early reassignment of the 3.5GHz spectrum band if the regulator decides that this band will be used for the deployment of 5G networks in Bahrain.
Founded in 2010, VIVA Bahrain is a fully-owned subsidiary of the Saudi Telecommunications Company (STC).
Founded in 2003, It was formerly known as Mena Broadband Services and changed its name to Mena Telecom in March 2005.
It is 99pc owned by Kuwait Finance House - Bahrain and 1pc by Baytik Investment One.
In March this year, VIVA Bahrain made an official bid to acquire Nuetel Communications Company, a subsidiary of Ossis Property Developers Company headquartered in Amwaj Islands.
Both VIVA Bahrain and Menatelecom could not be reached for comments.
Source: https://www.gdnonline.com/Details/268102/VIVA-Bahrain-to-acquire-Menatelecom
