Mubasher: Kuwait Telecommunication Company (VIVA) on Sunday announced that it has inked an initial agreement with both National Bank of Kuwait (NBK) and Bahrain Telecommunications (BATELCO) to buy Qulitynet Company.

VIVA will buy the entire capital of Qulitynet and will determine the price later when finishing the transaction, according to a filing to Boursa Kuwait.

VIVA is working on obtaining the required approvals to end the transaction.

The Kuwaiti telecommunications company will give further details later concerning the transaction’s financial impact.