President of Saudi Telecom (STC), Saud al-Daweesh, speaks during a press conference in Kuwait City 27 November 2007. Saudi Telecom (STC), the largest Arab telecom firm, has won a 26-percent stake in Kuwait's third mobile company, expected to start operating next year, the Kuwait Investment Authority said today. STC made the highest bid of 248.7 million Kuwaiti dinars (907.6 million dollars) in a tender for the stake, said the authority which manages the investments of the oil-rich Gulf state. The deal still has to be approved by the Kuwaiti government. AFP PHOTO/YASSER AL-ZAYYAT (Photo credit should read YASSER AL-ZAYYAT/AFP/Getty Images)
