Mobily shareholders to vote on Bayanat merger on May 14

Etihad Etisalat Co.’s (Mobily) shareholders are set to vote on the merger with Bayanat Telecom Co. during the extraordinary general assembly meeting that will be held on May 14, 2019, the company said in a bourse statement.

Baynat will be merged with its rights and obligations including all intellectual rights like names and trademarks, all assets with their contents, all projects, contracts and works that the company is a party of, in addition to all technical, administrative elements and licenses that it owns in Mobily.

This transaction takes place following Mobily’s acquisition of entire shares of the National Co. for Business Solutions in Bayanat, which are above 1,500 shares out of 150,000 shares, and converting Bayanat as one person partnership in accordance with the procedures followed by the system and due to CITC request.