Etisalat completes sale of Thuraya stake

Etisalat announces sale of stake in Thuraya Telecommunications Company to Star Satellite Communications.
ETISALAT, Thuraya, Business, Sale, Telecommunications, Economics, UAE, United Arab Emirates

Share

UAE-based telco Etisalat has completed the sale of its stake in Thuraya Telecommunications Company for AED137 million (US$37 million) to Star Satellite Communications.

The stake has been sold to Star, a subsidiary of Al Yah Satellite Communications Company (Yahsat), acquired the stake after receiving regulatory approvals and the condition that it acquired at least 75.001 percent of Thuraya.

The sale announcement was made in a posting on Abu Dhabi Securities Exchange where Etisalat's shares are traded.

In April, Etisalat signed an agreement with Star to sell its 28.042 percent stake in Thuraya Telecommunications Company.

Editor's Choice

Bahrain tops London and Silicon Valley for percentage of female startup founders - new report
Said to be among top 10 startup ecosystems with the largest share of female founders.
From the mag: Inside O2O2’s quest for fresher air with fashionable face masks
O2O2 isn’t just a face mask that’s been hitting the runways at Fashion Weeks worldwide. It’s also tackling the problem of polluted air at its source. Is there anything apps and mobile networks can’t do?

Most popular

Don't Miss a Story