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30-05-14

Saudi Mobily buys 20 percent stake in Atheeb

(MENAFN) Saudi Arabia's Etihad Etisalat (Mobily) has recently made an agreement with Etihad Atheeb Telecommunications to buy a stake in the latter, according to Arab News. Mobily has signed a memorandum of understanding four of Atheeb's founding shareholders in August 2013 to acquire a stake in the firm. A statement to the kingdom's bourse reported that Mobily's purchase of 20 percent stake in Atheeb has been approved in April through a rights share issue.