This document will provide interested investors with details of the Public Auction Process that will facilitate the sale of 26% share of the Third Mobile Telecommunications Company in Kuwait to a Strategic Partner.
The National Assembly of the State of Kuwait issued in February 2007, the law No. 2 of 2007, which commits the Kuwaiti government to Establish a Kuwaiti Joint Stock Company for the purpose of providing mobile, paging, and other wireless telecommunications services, in compliance with the Islamic Shari’aa.
The law No. 2 of 2007 stipulates that the initial ownership structure of the third operator must consist of the following shareholder distribution: 24% of the capital owned by Government Institutions and its affiliates, 50% Initial Pubic Offering (IPO), and the remaining 26% to be sold to a Kuwaiti Listed Company and / or a Foreign Telecom Operator, excluding the existing mobile telecommunications companies in the date of issuing this tender as they are not allowed to participate directly or indirectly in the new company.
According to the Establishing Committee, the RFI document explains in detail the tendering process and timeline, introducing the proposed regulatory instruments, and inviting interested investors to provide required information that will be used to pre-qualify them for the next round, as per certain criteria stated clearly in this document. Moreover, the Establishing Committee will require that the interested parties, single investors or a consortium of investors shall be, or is partnering, with an experienced foreign telecom operator with no current operations in Kuwait.
Interested parties shall pay a non-refundable KD 10,000 fee in order to get the RFI document and must first complete the registration form. After that, the Establishing Committee will notify the interested parties via email of their official status as an RFI Participant, and their eligibility to download the RFI documents from on a secure area on the website.
The RFI Clarification period will end at the Kuwait Close of Business Time of 1800 on July 17, 2007, after which no further RFI Clarifications will be accepted by the Establishing Committee. The response to the RFI should be submitted no later than the Kuwait Close of Business Time of 1800 on July 31 after which no further submissions will be accepted by the Establishing Committee.
Monday, July 9- 2007 @ 15:26 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.