Riyadh-Mubasher: Saudi Telecom Co. (STC) announced that it board agreed on 25 December to provide an offer to acquire a 40% stake in Sale Advanced Co. Ltd. to the owners of Ethad Sale for SAR 400 million, according to a bourse filing on Sunday.
The transaction will be financed by the company's own resources, the statement said, adding that the deal’s financial impact will be announced at a later stage as the deal progresses.
It is worth mentioning that STC currently owns 60% of Saudi-based Sale Advanced.
