Saudi Telecom Co (7010)

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News

22 July 2020 04:46 PM stc records 4% lower earnings in Q2; approves dividends

Riyadh – Mubasher: The Saudi Telecom Company (stc) gained net profits of SAR 2.72 billion during the second quarter (Q2) of 2020, posting an annual decrease of 4.35%. Revenues for the period ended on 30 June grew by 9.67% to stand at SAR 14.92 …

Financial Results

12 July 2020 11:02 AM stc renews MoU to acquire majority stake in Vodafone Egypt

Riyadh – Mubasher: Saudi Telecom Company (stc) has renewed the non-binding Memorandum of Understanding (MoU) previously signed with Vodafone Group to take over a 55% stake in Vodafone Egypt for 60 days effective immediately. The decision comes in …

Companies Investments

8 July 2020 04:16 PM stc Bahrain rolls out first large-scale indoor 5G deployment

Mubasher: stc Bahrain has launched the first local integrated large-scale indoor 5G commercial deployment, declaring that it has achieved a new milestone in developing an integrated network infrastructure that supports the 5G connectivity. The …

Macroeconomics

6 July 2020 02:05 PM stc pay, Visa team up to boost e-payments

Riyadh - Mubasher: stc pay and Visa International have signed a strategic partnership agreement to provide financial services and digital payment solutions to stc pay customers. The collaboration is the first of its kind in Saudi Arabia in the …

Companies Investments

5 July 2020 04:00 PM stc takes part in 5G MENA virtual conference

Mubasher: Kuwait Telecommunications Company (stc) said, during the 5G MENA virtual conference, that the Kuwaiti telecom market is a highly challenging and evolving with growing demand, from both individuals and corporates, for 5G services and …

Companies Investments

28 June 2020 03:34 PM stc cancels 50% of overdue bills

Riyadh – Mubasher: Saudi Telecom Company (stc) unveiled an initiative to facilitate payments of old billing debts that includes up to 50% discounts on the billing value. The move will allow customers to settle their old dues easily and smoothly, …

Management Decisions

17 June 2020 00:39 PM stc unveils new video conferencing solutions for businesses

Mubasher: Kuwait Telecommunications Company (stc) rolled out a new bundle of revolutionary remote collaboration tools and integrated video conferencing services for the B2B sector. The new bundle of services and equipment will assist customers in …

Companies Investments

28 April 2020 01:04 PM stc Kuwait establishes data link to help combat coronavirus

Mubasher: Kuwait Telecommunications Company (stc) has implemented a data link connection between the International Hospital and the Ministry of Health data centre through its technological arm and Internet Service Provider (ISP) Qualitynet. The 50 …

Companies Investments

22 April 2020 00:55 PM stc posts 5.9% rise in Q1 profits, plans 10% interim dividends

Riyadh – Mubasher: Saudi Telecom Company (stc) registered a 5.9% rise in net profit for the first quarter (Q1) of the year. Net profit after zakat and tax amounted to SAR 2.91 billion during the three-month period ended 31 March 2020, compared …

Cash Dividends

21 April 2020 01:29 PM stc shareholders approve SAR 300m share purchase

Riyadh – Mubasher: The extraordinary general assembly meeting (EGM) of the Saudi Telecom Company (stc) has approved the purchase of a number of the company’s shares. The company disclosed in a statement to the Saudi Stock Exchange (Tadawul) on …

General Assembly

13 April 2020 11:54 AM stc extends MoU to acquire majority stake in Vodafone Egypt

Riyadh – Mubasher: The Saudi Telecom Company (stc) announced the extension of the memorandum of understanding (MoU) previously signed with Vodafone Group to acquire its stake in Vodafone Egypt for 90 days. The Saudi telecom operator said that “due …

Mergers and Acquisitions

18 March 2020 01:33 PM stc posts SAR 10.7bn profits, plans SAR 300m share repurchase

Riyadh – Mubasher: The Saudi Telecom Company (stc) reported a 1.06% decline in annual profits for last year, as shown by its annual consolidated financial results for 2019. Net profit after zakat and tax for last year amounted to SAR 10.67 …

Financial Results

15 March 2020 03:17 PM stc employees to work remotely for two weeks

Riyadh – Mubasher: The Saudi Telecom Company (stc) announced that 3,000 employees will start working remotely as of Sunday for two weeks, in line with efforts to combat the spread of the new coronavirus (COVID-19). The initiative is also part of …

Global Economy

20 February 2020 02:37 PM EFG Hermes-Citibank to advise TE on Vodafone stake sale option

Cairo – Mubasher: The board of directors of Telecom Egypt approved a proposal to appoint the consortium comprised of EFG Hermes and Citibank to advise on its investment options regarding its stake in Vodafone Egypt. “With this strong consortium on …

Mergers and Acquisitions

18 February 2020 10:36 PM Three Tadawul-listed telecom companies post SAR 11.27bn profit in 2019

Riyadh – Mubasher: The consolidated net profits of three telecommunication companies listed on the Saudi Stock Exchange (Tadawul) grew by 2.57% year-on-year to SAR 11.27 billion in 2019, according to data compiled by Mubasher. Saudi Telecom …

Financial Results

17 February 2020 02:41 PM stc Pay, Saudi Payment ink cooperation agreement

Riyadh – Mubasher: stc pay, a subsidiary of Saudi Telecom Company (stc), has signed an agreement with Saudi Payments to enhance cooperation and knowledge exchange in the field of non-cash payments. Saudi Payments Company is fully owned by the …

Banking and Finance

5 February 2020 00:59 PM Telecom Egypt to hire bank to study Vodafone stake sale option

Cairo – Mubasher: Telecom Egypt is currently considering all possible investment options regarding its stake in Vodafone Egypt. The state-run telecom operator is set to appoint an investment bank to study these options and their consequences, …

Mergers and Acquisitions

4 February 2020 02:02 PM Vodafone deal to accelerate stc revenue growth – Aljazira Capital

Riyadh – Mubasher: Acquiring Vodafone Egypt would help Saudi Telecom Company (stc) in expanding its footprint in the MENA region, since Egypt is a major and fast-growing market, according to a recent report by Aljazira Capital. The research firm …

Mergers and Acquisitions

2 February 2020 04:06 PM stc pay gets SAMA’s fintech license as e-wallet

Riyadh – Mubasher: Saudi Telecom Company (stc) announced that its electronic payment subsidiary (stc pay) has obtained a fintech license as an e-wallet from the Saudi Arabian Monetary Authority (SAMA). This makes “stc pay” the first licensed …

Central Banks

1 February 2020 06:35 PM Vodafone deal may have no impact on Telecom Egypt’s operations

Cairo – Mubasher: Telecom Egypt’s (TE) operations will not be affected by the acquisition of Vodafone Egypt by the Saudi Telecom Company (STC), provided that TE decided to keep its stake in Vodafone, analyst at Beltone Financial Ahmed Abdul Majid …

Companies Investments

29 January 2020 11:44 AM stc signs MoU to acquire Vodafone Egypt for $2.4bn

Cairo – Mubasher: The Saudi Telecom Company (stc) announced that it has signed a non-binding memorandum of understanding (MoU) with Vodafone to acquire its 55% stake in Vodafone Egypt for $2.392 billion, equivalent to EGP 37.8 billion (SAR 8.97 …

Market News

28 January 2020 05:18 PM stc launches region's first self-driving 5G bus

Riyadh – Mubasher: Saudi Telecom Company (stc) has launched the region’s first 5G-supported self-driving bus at the King Abdulaziz Telecommunication Complex in Riyadh. The bus, launched in collaboration with Ericsson, will help smooth the movement …

Companies Investments

22 January 2020 06:00 PM stc to distribute SAR 1/shr dividends

Riyadh – Mubasher: Saudi Telecom Company (stc) announced that it will distribute SAR 2 billion interim dividends to shareholders for the fourth quarter (Q4) of 2019. Dividends will be distributed at SAR 1 per share, representing 10% of the share’s …

Cash Dividends

22 January 2020 05:38 PM stc posts marginal decrease in annual profits for 2019

Riyadh – Mubasher: Saudi Telecom Company (stc) has reported a marginal decline in net profit last year, as shown by the company’s interim consolidated condensed financial results for the 12-month period ending on 31 December 2019. Net profit after …

Financial Results

21 January 2020 05:33 PM stc agrees KWD 40m agreement with NBK

Riyadh – Mubasher: Kuwait Telecommunications Company (stc), a subsidiary of Saudi Telecom Company (stc), has signed a long-term finance agreement with the National Bank of Kuwait (NBK). The KWD 40 million finance deal extends to ten years, with …

Banking and Finance