Logo of United Electronics Co. (eXtra)
United Electronics Co.’s (eXtra) board of directors decided on April 30 to discontinue expansion plans in Egypt, the company said in a statement to Tadawul.
The decision came after the retailer reviewed the feasibility of pushing ahead with external expansion in Egypt, expecting a negative financial impact of SAR 38 million.
Further related material developments in this regard will be duly announced, the statement added.
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