Kuwait To Set Up Third Telecommunications Co -Report

CAIRO -(Dow Jones)- Kuwait is to establish a third mobile telecommunications company, the official Kuwait news agency reported Sunday.

The agency quoted Mohameed Sharar, deputy prime minister and minister of state for parliamentary and cabinet affairs, as stating that the government would fully finance the new company's equity through interest-free loans.

The Kuwait Investment Authority has been assigned to conduct a feasibility study during the next six months for that purpose, he added.

Two telecommunication companies currently operate in Kuwait, the Mobile Telecommunications Co., MTC, and National Mobile Telecommunication Co., or Wataniya Telecom.

-By Maha El Dahan, Dow Jones Newswires, +20122267850, mahaeldahan@yahoo.com

(END) Dow Jones Newswires "

Posted to the site on 2nd April 2006