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Etihad Etisalat Co. (Mobily) announces an update regarding the potential offer by Emirates Telecommunications Group Company to increase its shareholding in Mobily
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement made by Etihad Etisalat Company ("Mobily") published on the Saudi Exchange website on 13/8/1443H (corresponding to 16/3/2022G) in respect of the approach from Emirates Telecommunications Group Company P.J.S.C ("e&") to discuss increasing its shareholding in Mobily to 50% plus one share by means of a pre-conditional partial tender offer (the "Potential Offer"), pursuant to the Merger and Acquisition Regulations issued by the Capital Market Authority (the "M&A Regulations"). Mobily announces that it has received a letter from e& stating the termination of discussion and not to pursue the potential transaction related to the possible increase in its shareholding in Mobily. Simultaneously, e& confirmed in its letter that it takes pride in its enduring and prosperous partnership with Mobily, witnessing positive advancements in Mobily’s business across all sectors. |
| Previous Announcement | Etihad Etisalat Company (Mobily) announces an approach by Emirates Telecommunications Group Company to discuss a potential offer by Emirates Telecommunications Group Company to increase its shareholding in Etihad Etisalat Company (Mobily) |
| Date of Previous Announcement on Tadawul's Website | 2022-03-16 Corresponding to 1443-08-13 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 58.1
Net Change 0.4 (+0.69%)
Value Traded (Sar) 40,570,275.3
Volume Traded 699,504
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