Saudi Telecom Co (7010)

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News

29 December 2020 00:02 PM STC to invest $500m in cloud services in 5 years

Riyadh – Mubasher: Saudi Telecom Company (stc) announced investing around $500 million in cloud services over the upcoming five years in a partnership with eWTP Arabia Capital, one of the largest venture capital funds in the region, and Alibaba …

Macroeconomics

22 December 2020 03:47 PM King Saud University’s head launches stc’s AI chair

Riyadh – Mubasher: President of King Saud University (KSU), Badran Al-Omar, on Tuesday launched in Riyadh the Saudi Telecom Company’s (stc) artificial intelligence (AI) chair in the presence of stc’s CEO, Nasser Al Nasser. The newly-developed AI …

Companies Investments

21 December 2020 11:20 AM Vodafone calls off talks to sell Egypt stake to STC

Riyadh –Mubasher: Vodafone had ended talks with the Saudi Telecom Company (STC) on the $2.4 billion sale of its 55% shareholding in Vodafone Egypt after a series of missed deadlines to complete the deal, Reuters reported on Monday. "We believe …

Mergers and Acquisitions

14 December 2020 02:47 PM stc to set up premier regional digital hub

Riyadh – Mubasher: Saudi Telecom Company (stc) said it plans to build a premier regional digital hub in collaboration with regional and international partners. The hub is set to launch an array of state-of-the-art digital services in a bid to …

Companies Investments

29 November 2020 09:19 AM stc announces CEO resignation; completes share buyback at SAR 300m

Riyadh – Mubasher: Saudi Telecom Company’s (stc) Board of Directors accepted the resignation of the company’s CEO, Nasser S. Alnasser, on 28 November 2020, which was submitted for personal reasons. The resignation will be effective as of 28 March …

Insider Trading & Treasury Stocks

22 November 2020 10:57 AM stc inks deal to sell 15% in subsidiary to Western Union

Riyadh – Mubasher: Saudi Telecom Company (stc) signed an agreement with Western Union to sell a 15% equity stake in its fully-owned subsidiary Saudi Digital Payments (stc pay) for $200 million (SAR 750 million). Upon the completion of the deal, …

Mergers and Acquisitions

16 November 2020 03:58 PM GSMA reelects stc as board member

Riyadh – Mubasher: Industry group GSMA has reelected Saudi Telecom Company (stc) as a board member for the 2021-2022 term, represented by the Group CEO, Nasser Al Nasser, making STC the first Saudi company to achieve and maintain such milestone. …

Companies Investments

12 November 2020 03:57 PM Profits of Saudi companies fall to SAR 168bn in 9M

Riyadh – Mubasher: Profits of companies listed within Tadawul’s main index plunged by 47.38% yearly, equivalent to SAR 151.2 billion, during the first nine months of the year. Net earnings of 172 listed companies amounted to SAR 167.95 billion in …

Financial Results

3 November 2020 04:08 PM Three Saudi telecom companies record SAR 3bn profit in Q3

Riyadh – Mubasher: Combined profits of Saudi telecom companies listed on the Saudi bourse hiked by 4.46% or SAR 130 million year-on-year (YoY) during the third quarter (Q3) of 2020. Profits of three Tadawul-listed telecom operators, whose fiscal …

Sector Reports

2 November 2020 03:38 PM NCB leads six companies to account for 74% of third-quarter profits

Riyadh – Mubasher: A total of 72 Saudi companies have announced their third-quarter (Q3) financial results so far out of a total of 174 firms. Consolidated profits of those 72 firms amounted to SAR 17.8 billion in Q3-20, a decline of 3.7% when …

Financial Results

29 October 2020 09:39 AM stc assigned highest grade credit rating by Tassnief

Riyadh – Mubasher: SIMAH Rating Agency (Tassnief) has granted the Saudi Telecom Company (stc) the highest grade credit rating of “AAA” for the long term and “T1” for the short term. The assigned credit rating grade highlights Tassnief’s positive …

Ratings

28 October 2020 03:13 PM stc to provide 71 additional Saudi cities with 5G network

Riyadh – Mubasher: Saudi Telecom Company (stc) on Wednesday said it will provide an additional of more than 71 cities across Saudi Arabia with 5G network as part of its second-phase plan to deploy the network country-wide.  The milestone showcases …

Macroeconomics

25 October 2020 03:52 PM stc hires banks for potential IPO of subsidiary

Riyadh – Mubasher: Saudi Telecom Company (stc) has appointed banks to arrange a potential initial public offering (IPO) of shares in Solutions by STC, the company’s products and services development arm, Reuters reported on Sunday citing three …

Banking and Finance

21 October 2020 04:18 PM stc profits up 0.7% in Q3; dividends approved

Riyadh – Mubasher: Saudi Telecom Company (stc) achieved SAR 2.8 billion in net profits over the third quarter (Q3) of 2020, up by 0.7% on a year-on-year (YoY) basis. The rise in interim profits was helped by growth of 13.26% in gross profit, as a …

Cash Dividends

21 October 2020 01:24 PM stc, NVIDIA team up to build KSA's first AI, deep learning cloud platform

Riyadh – Mubasher: Saudi Telecom Company (stc) and NVIDIA signed an agreement to build Saudi Arabia’s first cloud platform for artificial intelligence (AI) and deep learning to empower the National Program for AI and build a roadmap for AI cloud …

Event

14 October 2020 04:17 PM stc sees rise in female employees this year

Riyadh – Mubasher: The number of female employees in the Saudi Telecom Company (stc) grew by 22.6% yearly during 2020 to reach 3,000. The number of female workers recommended to assume leading roles also rose significantly to represent 18% of …

Macroeconomics

12 October 2020 00:50 PM stc, Rakuten Mobile to collaborate in innovation, strategic mobile technology fields

Riyadh – Mubasher: Saudi Telecom Company (stc) and Rakuten Mobile, Inc. have signed a memorandum of understanding (MoU) to collaborate in the field of innovation and strategic mobile technology. The two firms will collaborate in various technology …

International Agreements

7 October 2020 00:37 PM stc is most valuable brand in KSA, UAE

Riyadh – Mubasher: Saudi Telecom Company (stc) took the first spot as the most valuable brand, worth $9.7 billion, in BrandZ Top 30 Most Valuable Emirati and Saudi Brands 2020 ranking. BrandZ said that the combined brand value of the thirty firms …

Companies Investments

6 October 2020 00:47 PM stc pay selects Temenos to grow its customer base to 6m by 2021

Riyadh - Mubasher: Temenos, the banking software company, announced that stc pay has selected cloud-native, cloud-agnostic Temenos Payments and Temenos Transact running on a private cloud to achieve exponential growth and expand its digital …

Companies Investments

15 September 2020 03:05 PM stc asks banks to pitch for unit IPO

Riyadh – Mubasher: Saudi Telecom Company (stc) has asked international and local banks to pitch for roles in a potential initial public offering (IPO) of its products and services development arm, Solutions by STC (STCS), Reuters reported on …

Initial Public Offerings

14 September 2020 03:19 PM Vodafone still in discussion with stc to sell $2.4bn stake in Egypt unit

Riyadh – Mubasher: Vodafone Group on Monday said due diligence regarding the sale of its 55% stake in Vodafone Egypt has been substantively completed by Saudi Telecom Company (stc). Despite the expiry of a memorandum of understanding (MoU), the …

Mergers and Acquisitions

13 September 2020 09:28 AM stc says no deal reached on Vodafone Egypt $2.4bn stake

Riyadh – Mubasher: Saudi Telecom Company (stc) said that the tenure of the non-binding agreement previously signed with Vodafone Group to take over a 55% stake in Vodafone Egypt has ended without reaching an agreement to conclude the transaction …

Mergers and Acquisitions

8 September 2020 11:16 AM stc in talks to cut $2.39bn offer for Vodafone Egypt

Riyadh – Mubasher: Saudi Telecom Company (stc) is in talks to reduce its non-binding $2.39 billion offer for a 55% stake in Vodafone Egypt, Bloomberg reported citing two people with direct knowledge of the matter. The discussions come as a …

Companies Investments

27 July 2020 03:53 PM NEOM teams up with stc to commence development of cognitive cities

Riyadh – Mubasher: NEOM has achieved a new milestone to become the world’s leading destination for attracting the best minds and investments after signing a one-year agreement with the Saudi Telecom Company (stc) to develop a transition into …

Companies Investments

27 July 2020 00:34 PM AlJazira Capital keeps TP of stc at SAR 97.4/shr

Riyadh – Mubasher: AlJazira Capital has retained the target price (TP) of the Saudi Telecom Company (stc) at SAR 97.4 per share and revised its recommendation on the stock to ‘Neutral’, according to a report released on Monday. In the second …

Stock Evaluations