Saudi Telecom Co (STC) has completed the purchase of a further 25.8 per cent stake in Kuwait's Viva, Kuwait's stock market said on Thursday.

STC has "completed procedures to execute the deal to acquire shares in Viva," the bourse said.

Kuwait's Capital Markets Authority had approved the acquisition of 128.86 million shares in Viva, the bourse said in a statement. The purchase price was equivalent to one dinar ($3.34) per share, it said.

The deal raises STC's stake in Viva to 51.8 per cent. – Reuters