SAUDI TELECOM COMPAN

7010
End-of-day quote. End-of-day quote  - 12/02
112.4SAR +0.54%

PIF Explores Sale Of Its Stake In Saudi Telecom

09/30/2021 | 08:59am
Saudi Telecom Company (SASE:7010) announced its receipt of a letter from The Public Investment Fund of The Kingdom of Saudi Arabia with respect to exploring a sale of part of its stake in STC while maintaining majority stake of more than 50% of the company. PIF has appointed Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, Morgan Stanley Saudi Arabia and SNB Capital to evaluate the potential transaction options. Potential transaction is expected to contribute to the medium and long-term value for all of STC’s investors by diversifying company‘s investor base.
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