Business 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