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

VIDEO: the 2018 CommsMEA Awards in review
What went down at this year's Awards? Read on...
From the mag: Optiva and opportunity through openness
A lot of companies may talk a big game about transparency and diversity. But few are practising what they preach quite like Optiva. CEO Danielle Royston talks about the importance of being open, hiring the best people for the job - and what comes next.
VIDEO: CommsMEA interviews Sophia the robot
CommsMEA editor Ben Mack speaks with Sophia, the social humanoid robot, at Etisalat's stand at GITEX 2018.

Most popular

Don't Miss a Story