Search Site

Trends banner

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

Etisalat to up stake in Mobily

  • Etisalat Group currently holds a 28-percent stake in Saudi-listed Mobily and it plans to see this going up to 50 percent
  • The Abu Dhabi-based firm, formally known as Emirates Telecommunication Group Co., has proposed a price of SR47 per share ($12.5)

In order to expand its market size in Saudi Arabia, the UAE-based telecom firm Etisalat is looking to increase its stake in the Saudi subsidiary Etihad Etisalat Co., also known as Mobily.

Etisalat Group currently holds a 28-percent stake in Saudi-listed Mobily and it plans to see this going up to 50 percent.

The Abu Dhabi-based firm, formally known as Emirates Telecommunication Group Co., has proposed a price of SR47 per share ($12.5), a bourse filing revealed.

This comes as Etisalat aims to expand its footprint in the Kingdom, and “deepen the strong existing ties with Mobily.”

The move paves the way for further future collaboration between the two telecom giants, the statement said.