Mobily says e& ends discussions on potential stake hike

Etihad Etisalat Co. (Mobily) announced receiving a letter from Abu Dhabi-listed telecom operator e& terminating discussions on a possible ownership increase in Mobily. The UAE’s telecom giant decided not to pursue the potential transaction, according to a statement to Tadawul.

In March 2022, Mobily said e& seeks to discuss increasing its shareholding in Mobily to 50% plus one share using a pre-conditional partial tender offer under the merger and acquisition regulations issued by the Capital Market Authority, Argaam earlier reported.