Mergers, Acquisitions and Financial Results - In brief

Mergers, Acquisitions and Financial Results

Etisalat has announced the signing of a share purchase agreement with Kuwait-based Zain Group for the sale of its 92.3% stake in Sudanese fixed line operator Canar Telecommunication Company (Canar). Under the terms of the deal, Etisalat will receive a total cash consideration of AED349.6 million (USD95.2 million) upon completion of the transaction, implying a price per share of AED17.50.