Etihad Etisalat Co.’s (Mobily) shareholders approved the merger with Bayanat Telecom Co. during the extraordinary general assembly meeting held on May 15, 2019.
|Deal Value||Method of Finance||Type||Status|
|Bayanat Al-Oula for Network Services Co. - Bayanat Al-Oula|
|Argaam Sector||Telecommunications Infrastructure Development|
|*Market Cap (Million SAR)||-|
|Etihad Etisalat Co. - Etihad Etisalat|
|Argaam Sector||Mobile Telecom Operators|
|*Market Cap (Million SAR)||17,694.60|
|Expected date for Completion||-|
Bayanat will merge with Mobily, preserving its rights and obligations. This includes all intellectual properties; such as brand names and trademarks, all assets with their contents, all projects, contracts, and projects that the company has already undertaken. In addition to all technical, administrative elements and licenses, the transaction will take place following Mobily’s acquisition of 100 percent of shares in National Co. for Business Solutions in Bayanat, which are above 1,500 shares out of 150,000 shares.