On December 4, 2004, Emirates Telecommunication Corp. (Etisalat) led a consortium to establish Etihad Etisalat Co. (Mobily).
|Deal Value||Method of Finance||Type||Status|
|-||-||Participate in Foundation||Completed|
|Emirates Telecommunication Corp. - ETISALAT|
|Market Cap (Million SAR)||-|
|Etihad Etisalat Co. - Etihad Etisalat|
|Argaam Sector||Mobile Telecom Operators|
|Market Cap (Million SAR)||20,674.500|
|Expected date for Completion||-|
Emirates Telecommunication Corp. (Etisalat) was formed on August 30, 1976, as the first and only telecommunications service provider in UAE. The company provides integrated telecommunication and Internet services.
* Etihad Etisalat Co. (Mobily) was set up with a capital of SAR 5 bln distributed over 100 million shares. Major shareholders owned 80 percent stake in the company while the remaining 20 percent was listed on the Saudi Stock Exchange (Tadawul).