Saudi Telecom to acquire 40% of Sale Advanced Co. Ltd.

Saudi Telecom (STC) offered to acquire a stake in Sale Advanced Co. Ltd., representing 40 per cent of the company’s shares to the owners of Ettihad Sale, valued at SAR 400 million. As reported by SAP, the transaction will be financed by the company’s own resources while the financial impact of the deal will be announced at a later stage as the deal progresses.

STC
The company noted in a statement on the ‘Tadawul’ that STC currently owns 60 per cent of the company.

 

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