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Saudi Telecom Company (stc) announces the latest development in regards to the memorandum of understanding (MoU) with Vodafone to acquire the group’s shareholding in Vodafone Egypt.

STC 7010 -4.35% 39.60 -1.80
Element List Explanation
Introduction With reference to the announcement made by Saudi Telecom Company (stc) dated ‪21/11/1441H (corresponding to 12/07/2020G) regarding the extension of the non-binding memorandum of understanding (MoU) with Vodafone Group (Vodafone) in relation to the potential acquisition of Vodafone’s 55% shareholding in Vodafone Egypt, stc announces the expiration of the MoU’s extension period without reaching to an agreement to conclude the transaction due to misalignment with relevant parties. Also, an understanding has been reached between stc and Vodafone Group to keep the dialog open. ‬‬

‎‏Any material development with respect to it will be announced to the market in due course.

Previous Announcement Saudi Telecom Company (stc) announces the latest development in regards to the memorandum of understanding (MoU) with Vodafone to acquire the group’s shareholding in Vodafone Egypt.
Date of Previous Announcement on Tadawul's Website 2020-07-12 Corresponding to 1441-11-21
Progress NA
Event's Expected Completion Date NA
Expenses Related to the Event, Whether They Changed or Not and Justification NA

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