Riyadh – Mubasher: Etihad Etisalat Company’s (Mobily) shareholders approved the merger of Bayanat Telecom Company during an extraordinary general assembly meeting held on Tuesday, 14 May.

Bayanat Telecom will be merged with its rights and obligations, including all intellectual rights represented in names, trademarks, all assets with their contents, all projects, contracts, and works that the merged company is a part of, according to Mobily’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The merger will also include all technical, administrative elements and licences that Bayanat owns in Mobily.

This comes after Mobily’s acquisition of entire shares of the National Company for Business Solutions in Bayanat Telecom Company, which are above 1500 shares out of 150.000 shares,  and converting Bayanat Telecom Company as one person partnership in accordance with the procedures followed by the system and due to Saudi Arabia’s Communications and Information Technology Commission (CITC) request.