Mobily overcame challenges; UAE telco e& offer pending shareholders’ approval: CEO

30/03/2022 Argaam Special

Salman Al Badran, CEO of Etihad Etisalat Co. (Mobily)

Salman Al Badran, CEO of Etihad Etisalat Co. (Mobily),  said the offer of the UAE’s telecom operator e& is pending the approval of shareholders and competent authorities.

 

In an interview with Argaam, Al Badran said Mobily records growth in all indicators, attracting several investment entities to the telco. “It is a matter of supply and demand,” he added.

 

The Saudi telecom operator overcame its challenges, the CEO said.

 

“The stock price was SAR 14 when the company was launched, and has increased to exceed SAR 42 currently after the telco’s earnings reached their highest level in eight years,” he added.

 

Earlier this month, Mobily said e& approached it to discuss increasing its shareholding in the Saudi telco to 50% plus one share using a pre-conditional partial tender offer, Argaam reported.

 

e& proposed a price of SAR 47 per Mobily share. It owns a 27.99% stake in Mobily.

 

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