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FinancialNews


  • 22-07-13

    STC to sell shareholding in Axis Indonesia

    (MENAFN) Saudi Telecom Company (STC) revealed its decision to sell its share of Axis Telecom Indonesia, Alarabiya.net reported. STC witnessed a significant decline in its net profit by 41 percent in the second quarter, which was attributed mainly to non-cash charge in valuation of STC's Axis investment totaled at USD161 million. It's worth mentioning that STC has a direct 80.1 percent shareholding of the Indonesia telecom, plus 3.725 percent indirect shareholding.

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