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    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 EDT
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)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SAUDI TELECOM COMPANY 0.46% 131 End-of-day quote.23.58%
VODAFONE GROUP PLC -0.97% 125.58 Delayed Quote.3.61%
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Financials
Sales 2021 61 447 M 16 385 M 16 385 M
Net income 2021 11 281 M 3 008 M 3 008 M
Net cash 2021 8 034 M 2 142 M 2 142 M
P/E ratio 2021 23,2x
Yield 2021 3,36%
Capitalization 262 B 69 759 M 69 761 M
EV / Sales 2021 4,13x
EV / Sales 2022 4,04x
Nbr of Employees -
Free-Float 29,9%
Chart SAUDI TELECOM COMPANY
Duration : Period :
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
Last Close Price 131,00 SAR
Average target price 116,46 SAR
Spread / Average Target -11,1%
EPS Revisions
Managers and Directors
NameTitle
Olayan Mohammed Al-Wetaid Chief Executive Officer
Ameen Fahad ben Abdulaziz Al-Shiddi Chief Financial Officer
Mohammed Khaled Al-Abdullah Al-Faisal Chairman
Haithem Mohammed Al-Faraj Senior Vice President-Technology & Operations
Abdulaziz Abdullah Al-Qatie Vice President-Investment Operations
Sector and Competitors
1st jan.Capitalization (M$)
SAUDI TELECOM COMPANY23.58%69 443
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CHARTER COMMUNICATIONS, INC.6.87%131 932
CHINA MOBILE LIMITED9.28%127 891
DEUTSCHE TELEKOM AG18.62%100 512
NIPPON TELEGRAPH AND TELEPHONE CORPORATION9.20%93 729