Saudi Telecom Company completes final procedures for acquiring the remaining 40% stake in Saleco for SAR400mn
Saudi Telecom Company (STC) [7010.SE] has concluded the final procedures in acquiring the remaining 40% stake in Sale Advanced Company (Saleco), a company that offers retail sales services through distribution channel networks located in Gulf States, for a total consideration of SAR400mn and raising its shareholding to 100%. The acquisition was fully financed with STC’s own resources. (Company disclosure) Saudi Telecom Company: SAR66.74 as of 17 January 2017, Rating: Neutral, TP: SAR68.29 per share, MCap: USD35,595mn, STC AB / 7010.SE
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