Mideast pay-TV firm OSN gets buyout offer from unnamed bidder

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Middle Eastern pay-television operator OSN is the subject of a full takeover bid from an unnamed buyer, its parent company said on Sunday, a deal that could prove to be one of the largest acquisitions of a regional business in recent years. Kuwait Projects Company (KIPCO), which owns 60.5 percent of OSN, said in a bourse filing it would evaluate the bid alongside its partner and update the market if there were any developments. Saudi Arabia-based Mawarid Group owns the rest of OSN, according to the TV firm's website. OSN, which has operations across the Middle East and **rth Africa and posted earnings of 139.5 million dinars ($494 million) in 2013, was a candidate for an initial public offer of shares this year, although the company dampened those expectations in recent weeks.

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