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Yemeni rivals have also agreed to meet in Saudi Arabia, commit to Riyadh Agreement
The time will be used to complete the necessary procedures for the deal, according to a statement STC sent to the Saudi Stock Exchange (Tadawul).
With the possibility of completing the deal sometime in the summer, Telecom Egypt (TE) has begun discussing the investment opportunity in the deal, in light of its acquisition of 45% of Vodafone Egypt.
Telecom Egypt goes over options in Vodafone deal with investment bank
STC and Vodafone International Group agreed to sell the latter’s majority stake in Vodafone Egypt to STC for $2.4bn.
The company has the right to acquire Vodafone Egypt’s full shares on the condition they offer a similar deal to STC: Legal source
The Vodafone Group acquired Egypt’s VOIS for EGP 1bn in November
In the event of the transaction’s completion, both parties intend to conclude a partnership agreement that will allow STC to use the Vodafone trademark and other Vodafone services.
The source said Vodafone International negotiated with more than one Gulf company, but it finally preferred STC and kept it secret until it got the best price.
“Happy Yemen” sucked into quagmire of proxy wars, famine with no end in sight
Ericsson and STC Solutions, a subsidiary of the Saudi Telecom Company, have signed a sales channel partnership agreement to allow STCS to resell Ericsson hardware, software, post-warranty, and training across networks, digital services, managed services, as well as emerging business and technology business units to end users – including STC subsidiaries, such as VIVA Kuwait …
Barcelona- As part of its strategic priorities to maximise the benefits of its network evolution in Saudi Arabia, Saudi Telecom Company (STC) announced on Monday that it has signed a Memorandum of Understanding (MoU) with Ericsson to collaborate in building 5G use cases. The overall aim is to prepare STC in targeting enterprise and consumers customers …
The Saudi Telecom Company (STC) and Ericsson announced that they are launching a mid-band 5G network in Saudi Arabia during the Mobile World Congress 2019 in Barcelona. The STC is deploying a 5G network using Ericsson commercial hardware and solutions, including radio access network (RAN), packet core, transport, and Ericsson Network Manager. This network modernisation …
TE is looking ahead for future, not only for current, past phases
Pilgrim consumption of data increased by 68% over last year
The Ministry of Communications is dependent on technological and creativity zones and electronic manufacturing to attract foreign investments