December 29, 2023Business Desk

UAE's e& ends talks to hike stake in Saudi telco Mobily

The United Arab Emirates' telecoms group e& disclosed the cessation of discussions aimed at increasing its stake in Saudi Arabia's Etihad Etisalat (Mobily) to 50 per cent plus one share on Friday.

Source: Pexels

The engagement period failed to yield a viable path to conclude the proposed transaction, leading e& to abandon further pursuit of the financial arrangement.

Source: Pexels

Despite withdrawing from the intended transaction, e& reiterated its commitment to supporting Mobily as a significant shareholder.

Source: Pexels