The offer period of the voluntary tender offer (VTO) by Saudi Telecom Company (STC) [7010.SE] to acquire the remaining 74% stake in Viva Kuwait (Viva) [VIVA.KW] is set to end today. According to unnamed sources, as of yesterday, STC has raised its ownership in Viva to slightly over 50% from 26%. Consequently, this will allow STC to consolidate its operations and fully control Viva. STC’s CEO Khaled Biyari announced recently that owning just 50% of the company is enough. It is worth noting that the additional c24% stake in Viva cost STC cSAR1.5 billion (KWD120 million). This still leaves STC with a significantly substantial cash balance of SAR19.8 billion as of December 2015. (Maaal)   Saudi Telecom Company: SAR60.06 as of 28 January 2016, Rating: Buy, FV: SAR79.00 per share, MCap: USD32,032 million, STC AB / 7010.SE