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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