Mobily company
Etihad Etisalat Company (Mobily), through a statement on the Saudi Tadawul platform, yesterday, Sunday, disclosed the latest developments in the potential deal related to increasing the Emirates Telecommunications Group’s (e&) stake in Mobily Saudi Arabia, which currently stands at 28%, to 50%.
In this context, Mobily Saudi Arabia announced that it had received a letter from the Emirati company stating the end of these talks and not pursuing the potential deal, explaining that E& Emirates was unable to move forward with the deal, while emphasizing the long-term and successful relations with Mobily and the positive developments achieved by the Saudi company in all aspects. in the last period.
The cessation of discussions between the two parties comes about two years after Mobily announced for the first time that the UAE e& was communicating with it to raise the Emirati company’s stake in Mobily to 50% plus one share, through a partial offer subject to prior conditions in accordance with the merger and acquisition regulations issued by the Saudi Capital Market Authority.
Considering Monday’s tradingIt is clear that Mobily shares (TADAWUL: 7020) recorded an increase of about 1.94%, reaching 50.0 riyals per share.
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An Emirati company ends discussions to increase its stake in Mobily Saudi Arabia
2024-01-01 12:14:34
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