Kuwait's KIPCO rejects US$3.2 billion offer for pay-TV unit OSN - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"Kuwait Projects Company (KIPCO) has rejected a $3.2 billion takeover offer from a U.S. private equity firm for its pay-television subsidiary OSN, the parent company said in a bourse filing on Sunday.
KIPCO owns 60.5 percent of OSN while Saudi Arabia-based Mawarid Group holds the remainder. They jointly refused an offer from the U.S. firm, which was not identified in the statement.
The offer comprised $2.4 billion in cash and a further $800 million subject to certain conditions, according to KIPCO. It said the offer was for between 51 and 100 percent of OSN; it did not elaborate."
'via Blog this'
No comments:
Post a Comment