Kuwait-Mubasher: Hits Telecom Holding said that the legal conflict between the company, in its capacity as parent guarantor, and a creditor has been settled through the “original debtor,” according to a statement issued on the bourse on Sunday.

Thus, the Kuwaiti company was acquitted of any financial commitment to the creditor, Integrated Power Technologies - PowerTech (Offshore); as Hits Telecom’s associate, the original debtor, has cleared its debt to the Lebanese company.

Hits Telecom noted that the creditor approved the settlement.

The company, which is listed on both Kuwait and Dubai, said that no financial impact will affect the registries, since the original debtor is the party making the settlement.