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FINANCIAL NEWS
Saudi Mobily buys 20 percent stake in Atheeb
30 May 2014
(MENAFN) Saudi Arabia’s Etihad Etisalat (Mobily) has recently made an agreement with Etihad Atheeb Telecommunications to buy a stake in the latter, according to Arab News.
Mobily has signed a memorandum of understanding four of Atheeb’s founding shareholders in August 2013 to acquire a stake in the firm.
A statement to the kingdom’s bourse reported that Mobily’s purchase of 20 percent stake in Atheeb has been approved in April through a rights share issue.
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