Posts filtered by tags: Saudi Telecom Co[x]


 

#Saudi Unicorn Looks Beyond Kingdom After Western Union Deal - Bloomberg

Saudi Unicorn Looks Beyond Kingdom After Western Union Deal - Bloomberg Saudi Arabian digital payments firm stc pay, which was valued at $1.3 billion in a funding agreement with Western Union this month, is set to become profitable “very soon” and is in talks with regulators to expand into neighboring countries.The company, launched by the kingdom’s biggest mobile operator Saudi Telecom Co. in late 2018, wants to offer digital payments across the six-nation Gulf Cooperation Council, Chief Execut...
Tags: Travel, Saudi Arabia, Digital, Middle East, Western Union, Mohammed bin Salman, Gulf Cooperation Council, STC, Rupert Neil Bumfrey, Saudi Telecom Co, Ahmed Alenazi, Alenazi


Western Union Buys 15% Stake in #Saudi Telecom’s STC Pay Unit - Bloomberg

Western Union Buys 15% Stake in Saudi Telecom’s STC Pay Unit - Bloomberg Western Union Co. has acquired a 15% stake in STC Pay, an arm of Saudi Telecom Co. that is focused on digital payments and financial technology services.Western Union purchased the stake for $200 million, the Saudi-based telecom operator said in a statement Saturday, valuing the company at about 5 billion riyals ($1.3 billion).STC Pay, which goes by lower case lettering in its branding, is a financial company that launched ...
Tags: Travel, Western Union, STC, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, STC Pay Unit Bloomberg, STC Pay Unit Bloomberg Western Union Co


#Saudi Telecom Said to Weigh IPO for Internet-Services Unit - Bloomberg

Saudi Telecom Said to Weigh IPO for Internet-Services Unit - Bloomberg:Saudi Telecom Co. plans to spin off its internet-services unit through an initial public offering on the local stock exchange late next year, in a listing that could value the business at about 10 billion riyals ($2.7 billion), according to people familiar with the matter.Saudi Telecom is considering selling as much as 30% of the unit, Solutions by STC, although no final decisions have been made and the company may still deci...
Tags: Travel, Riyadh, STC, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co


Vodafone Remains in Talks to Sell Stake in Egypt Unit to STC - Bloomberg

Vodafone Remains in Talks to Sell Stake in Egypt Unit to STC - Bloomberg:Vodafone Group Plc said it remains in talks to sell its Egyptian business to Saudi Telecom Co. after failing to finalize the terms before a deadline.Vodafone “remains in discussions with Saudi Telecom to finalize the transaction in the near future,” and “now looks to Saudi Telecom and Telecom Egypt to find a suitable agreement to enable the transaction to close,” the U.K.-based mobile carrier said in a statement.Saudi Telec...
Tags: Travel, Egypt, Vodafone, Vodafone Group Plc, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Vodafone Egypt, Vodafone Remains, STC Bloomberg, Saudi Telecom and Telecom Egypt, Telecom Egypt Saudi Telecom


Middle East Deals: #Saudi Telecom Seeks to Cut Offer for Stake in Vodafone Egypt - Bloomberg

Middle East Deals: Saudi Telecom Seeks to Cut Offer for Stake in Vodafone Egypt - Bloomberg:Saudi Telecom Co. is in discussions to reduce its non-binding $2.39 billion offer for a stake in Vodafone Egypt, two people with direct knowledge of the talks said.The discussions come as a deadline nears for STC to move ahead with the non-binding offer first made in January. The Saudi company in July extended the memorandum of understanding for 60 days due to the impact of the coronavirus pandemic.The ca...
Tags: Travel, Vodafone, STC, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Vodafone Egypt, Vodafone Egypt Bloomberg, Telecom Egypt STC


#Saudi Telecom Delays $2 Billion-Debt Talks for Vodafone Deal - Bloomberg

Saudi Telecom Delays $2 Billion-Debt Talks for Vodafone Deal - Bloomberg:Saudi Telecom Co. has postponed talks to raise debt to fund the acquisition of Vodafone Group Plc’s stake in its Egyptian business because of the coronavirus outbreak, according to people with knowledge of the matter.Work on the acquisition is still continuing and the kingdom’s largest telecoms operator may resume negotiations with banks for a loan of more than $2 billion once things have settled, the people said, asking no...
Tags: Travel, Vodafone, Vodafone Group Plc, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Vodafone Egypt, Saudi Telecom Delays, Vodafone Deal Bloomberg


Uber Adds #Saudi Investors as Pharo, Branson Shun Kingdom's Cash - Bloomberg

Uber Adds Saudi Investors as Pharo, Branson Shun Kingdom's Cash - Bloomberg:As global investors reevaluate their relationships with Saudi Arabia after the killing of columnist Jamal Khashoggi, Uber Technologies Inc. just ended up with more shareholders from the kingdom.The U.S. ride-hailing company will add Prince Alwaleed bin Talal Al Saud’s Kingdom Holding Co., Al Tayyar Travel Group Holding Co. and Saudi Telecom Co. to its shareholder base once it completes the acquisition of Dubai-based riva...
Tags: Travel, Saudi Arabia, Dubai, Careem, Rupert Neil Bumfrey, Saudi Telecom Co, Careem Networks, Prince Alwaleed bin Talal Al Saud, Pharo Branson Shun Kingdom s Cash Bloomberg, Jamal Khashoggi Uber Technologies Inc


What Now for Saudi Arabia's Planned $2 Trillion Fund? - Bloomberg

What Now for Saudi Arabia's Planned $2 Trillion Fund? - Bloomberg:Saudi Arabia is now looking for Plan B to propel its sovereign wealth fund into the ranks of global giants. The initial plan was to raise at least $100 billion through an initial public offering of a small stake in Saudi Aramco, the state-owned oil company, in the second half of 2018. Though the IPO is not going ahead as originally planned, the nation’s Public Investment Fund still hopes to control more than $2 trillion by 2030.1....
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Saudi Aramco, Saudi Basic Industries Corp, Rupert Neil Bumfrey, Public Investment Fund, National Commercial Bank, Saudi Telecom Co


What Now for Saudi Arabia's Planned $2 Trillion Fund? - Bloomberg

What Now for Saudi Arabia's Planned $2 Trillion Fund? - Bloomberg:Saudi Arabia is now looking for Plan B to propel its sovereign wealth fund into the ranks of global giants. The initial plan was to raise at least $100 billion through an initial public offering of a small stake in Saudi Aramco, the state-owned oil company, in the second half of 2018. Though the IPO is not going ahead as originally planned, the nation’s Public Investment Fund still hopes to control more than $2 trillion by 2030.1....
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Saudi Aramco, Saudi Basic Industries Corp, Rupert Neil Bumfrey, Public Investment Fund, National Commercial Bank, Saudi Telecom Co


MIDEAST STOCKS-Saudi continues slide after FTSE decision, rest of region mixed | ZAWYA MENA Edition

MIDEAST STOCKS-Saudi continues slide after FTSE decision, rest of region mixed | ZAWYA MENA Edition:"Saudi Arabia's stock market opened lower on Monday, falling for a third straight day after FTSE Russell decided last week to upgrade the bourse to emerging market status. The rest of the region was mixed. The Saudi index shed 0.3 percent in the first hour, which analysts attributed to profit-taking after a months-long surge preceding FTSE's decision. The biggest contributor to the index's drop wa...
Tags: Travel, Saudi Arabia, Russell, Rupert Neil Bumfrey, Al Rajhi Bank, Saudi Telecom Co


Qatar's Ooredoo Is Said to Plan Rival Bid for Turk Telekom Owner - Bloomberg

Qatar's Ooredoo Is Said to Plan Rival Bid for Turk Telekom Owner - Bloomberg:"Qatari phone carrier Ooredoo QSC decided to bid for the insolvent owner of Turkey’s biggest telecommunications company to rival an offer from Saudi Telecom Co., three people with knowledge of the matter said. Ooredoo will seek to acquire Ojer Telekomunikasyon AS, or Otas, a special purpose vehicle that owns 55 percent of Turk Telekomunikasyon AS, said the people, who asked not to be identified because the matter is pri...
Tags: Travel, Qatar, Turkey, Myanmar, Algeria, Doha, Ooredoo, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Otas, Turk Telekomunikasyon AS, Ojer Telekomunikasyon AS, Oger Telecom, Turk Telekom Owner Bloomberg, Ooredoo QSC


MIDEAST STOCKS-Petchems, Saudi Telecom beat lift Riyadh; rest of Gulf sluggish

MIDEAST STOCKS-Petchems, Saudi Telecom beat lift Riyadh; rest of Gulf sluggish:"Petrochemical stocks and an earnings beat by Saudi Telecom Co lifted Riyadh’s stock market on Sunday while other Gulf bourses were sluggish, once more ignoring a strong performance by Wall Street on the previous trading day.The Saudi stock index climbed 0.7 percent. Unusually, four of the 10 most active stocks were petrochemical producers after oil prices rose sharply at the end of last week, with Brent crude hitting...
Tags: Travel, Gulf, Reuters, Riyadh, Rupert Neil Bumfrey, Saudi Basic Industries, Saudi Telecom, Saudi Telecom Co, Petchems Saudi Telecom


MIDEAST STOCKS-Petchems, Saudi Telecom lift Riyadh; other bourses quiet

MIDEAST STOCKS-Petchems, Saudi Telecom lift Riyadh; other bourses quiet:"Petrochemical stocks and an earnings beat by Saudi Telecom Co boosted Riyadh’s stock market early on Sunday while other Gulf bourses were generally quiet.The Saudi stock index climbed 0.6 percent in the first 45 minutes as petrochemical giant Saudi Basic Industries gained 1.2 percent and several other producers such as Saudi Kayan rose by smaller amounts in unusually active trade.Brent oil rose 1.9 percent on Friday to $60....
Tags: Travel, Saudi Arabia, Russia, Gulf, Riyadh, Rupert Neil Bumfrey, Saudi Basic Industries, Saudi Telecom Co, Petchems Saudi Telecom


Banks Hire Lazard to Solve Turkey's Biggest Default - Bloomberg

Banks Hire Lazard to Solve Turkey's Biggest Default - Bloomberg:"Banks that provided a $4.75 billion loan to Turk Telekomunikasyon AS’s major shareholder hired Lazard Ltd. to advise them on the nation’s biggest ever default, according to three people with knowledge of the matter. The creditors also hired Raiffeisen Investment AG to advise in negotiations over the loan taken out by Ojer Telekomunikasyon AS, or Otas, which owns 55 percent of Turk Telekom. Other parties to the talks are the Turkish...
Tags: Travel, Bloomberg, Turkey, Lazard, Raiffeisen, Lazard Ltd, Rupert Neil Bumfrey, Saudi Telecom Co, Otas, Turk Telekomunikasyon AS, Raiffeisen Investment AG, Ojer Telekomunikasyon AS, Turk Telekom Other, Turkish Treasury, Turk Telekom Otas


Ex-Google Exec Gets $500 Million From STC for Mideast Tech Deals - Bloomberg

Ex-Google Exec Gets $500 Million From STC for Mideast Tech Deals - Bloomberg:"Saudi Telecom Co. has created a $500 million technology fund to be run by ex-Google executive Abdulrahman Tarabzouni to invest in areas like artificial intelligence and virtual reality. STV, as the fund will be known, already has a pipeline of potential deals it is looking at and the first could be completed before the end of the year, Tarabzouni said at a press conference in Riyadh. The fund is looking to make investm...
Tags: Travel, Google, Bloomberg, Middle East, Riyadh, Mideast, STC, Amazon com Inc, STV, Rupert Neil Bumfrey, Saudi Telecom, Mohamed Alabbar, Saudi Telecom Co, Abdulrahman Tarabzouni, Khaled Biyari, Mideast Tech Deals Bloomberg


Banks Said to Reject Saudi Telecom Bid to Resolve Debt Issue - Bloomberg

Banks Said to Reject Saudi Telecom Bid to Resolve Debt Issue - Bloomberg:"Banks rejected a Saudi Telecom Co. plan to resolve a dispute over a missed payment on a $4.75 billion loan at a Turkish unit, prolonging a five-month impasse on the debt, people with knowledge of the matter said. The lenders turned down the plan because it involved taking a loss on the loan, three people said, asking not to be identified because talks are private. Saudi Telecom’s plan envisaged lending about $160 million t...
Tags: Travel, Bloomberg, Turkey, Rupert Neil Bumfrey, Saudi Telecom, Türk Telekom, Saudi Telecom Co, Otas, Otas Otas


Saudi Fund Said to Weigh Offering Billions for Buyout Expertise - Bloomberg

Saudi Fund Said to Weigh Offering Billions for Buyout Expertise - Bloomberg:"Saudi Arabia’s sovereign wealth fund has discussed investing billions of dollars in global buyout funds as the kingdom seeks private equity’s help to manage its portfolio of companies at home, according to people familiar with the matter.The Public Investment Fund -- with more than $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. -- has informally reache...
Tags: Travel, Saudi Arabia, Bloomberg, Pif, Saudi Basic Industries Corp, Rupert Neil Bumfrey, Public Investment Fund, Saudi Telecom Co