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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Telecom Company    7010   SA0007879543

SAUDI TELECOM COMPANY

(7010)
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Saudi Telecom : extends Vodafone Egypt stake purchase for second time

07/12/2020 | 12:16am EST
The spread of the coronavirus disease (COVID-19), in Cairo

Saudi Arabia's largest telecoms operator Saudi Telecom Co (STC) said on Sunday it would need another two months to complete the purchase of Vodafone Group's 55% stake in Vodafone Egypt.

STC signed a non-binding agreement in January to buy the majority stake for $2.4 billion, but extended the process in April by 90 days, citing logistical challenges caused by the coronavirus pandemic.

In a statement, STC said it was extending this period again until September for the same reasons.

Vodafone Egypt is the country's biggest mobile operator with 44 million subscribers and a 40% market share.

STC is majority owned by Saudi Arabia's state fund the Public Investment Fund (PIF).

(Reporting by Alexander Cornwell; Editing by Raissa Kasolowsky)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SAUDI TELECOM COMPANY -0.37% 107.8 End-of-day quote.5.89%
VODAFONE GROUP PLC 2.05% 123.94 Delayed Quote.-16.88%
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Financials
Sales 2020 58 248 M 15 531 M 15 531 M
Net income 2020 11 022 M 2 939 M 2 939 M
Net Debt 2020 4 769 M 1 272 M 1 272 M
P/E ratio 2020 19,5x
Yield 2020 3,71%
Capitalization 215 B 57 436 M 57 437 M
EV / Sales 2020 3,78x
EV / Sales 2021 3,70x
Nbr of Employees -
Free-Float 30,0%
Chart SAUDI TELECOM COMPANY
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Saudi Telecom Company Technical Analysis Chart | 7010 | SA0007879543 | MarketScreener
Technical analysis trends SAUDI TELECOM COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 100,39 SAR
Last Close Price 107,80 SAR
Spread / Highest target 17,8%
Spread / Average Target -6,87%
Spread / Lowest Target -17,4%
EPS Revisions
Managers
NameTitle
Nasser Sulaiman A. Al-Nasser Group Chief Executive Officer
Mohammed Khaled Al-Abdullah Al-Faisal Chairman
Haithem Mohammed Al-Faraj Senior VP-Technology & Operations
Ameen Fahad ben Abdulaziz Al-Shiddi Chief Financial Officer
Ibraheem Abdul Rahman Hamd Al-Qadi Independent Director
Sector and Competitors