Tue, 2020-07-14 02:25
RIYADH: The Saudi Telecom Company (STC) has said it will need two additional months to close an acquisition deal to buy a 55 percent stake in Vodafone Egypt.
According to a logistics expert, Zael Aldayhani, the delay gives STC time to consider the variables that have arisen due to the COVID-19 pandemic and the changes brought on by the global health crisis.
STC concluded a deal in January to buy the stake for $2.4 billion, then decided in April to extend the process for 90 days due to logistical challenges stemming from the spread of COVID-19.
Main category:
from ArabNews https://ift.tt/300imWw
via Latest News of Dubai
0 Comments