In a statement to Tadawul, Saudi Telecom Company (STC) [7010.SE] has officially announced that the offer period of the voluntary tender offer (VTO) to acquire the remaining shares of Viva [VIVA.KW] was concluded yesterday. STC raised its ownership in Viva to 51.8% from 26.0%, representing an additional 129 million shares. The additional stake cost STC SAR1.6 billion (KWD129 million). This still leaves STC with a significantly substantial cash balance. As of December 2015, STC’s cash balance was SAR21.3 billion. STC is yet to seek the approval of relevant authorities in Kuwait to be in compliance with the regulations regarding funds and ownership transfer. (Tadawul)   Saudi Telecom Company: SAR60.80 as of 31 January 2016, Rating: Buy, FV: SAR79.00 per share, MCap: USD32,427 million, STC AB / 7010.SE