الرئيسية
DUBAI, Dec 14 (Reuters) - Saudi Telecom Co
(STC) has bought a further 20 percent stake in United Arab
Emirates digital media firm Intigral for 90 million riyals ($24
million), the telecoms operator said on Wednesday.
The deal will raise STC's stake in Intigral to 71 percent,
with the operator funding the purchase through its own reserves.
"The move is consistent with the strategy to focus on
providing content services that are important to many of its
customers," STC said in a statement posted on the Saudi bourse
website.
Intigral provides content on mobile phones, television and
the Internet for telecoms operators and Internet service
providers.
($1 = 3.7505 Saudi riyals)
(Reporting by Martina Fuchs and Matt Smith; Editing by Firouz
Sedarat)
(STC) has bought a further 20 percent stake in United Arab
Emirates digital media firm Intigral for 90 million riyals ($24
million), the telecoms operator said on Wednesday.
The deal will raise STC's stake in Intigral to 71 percent,
with the operator funding the purchase through its own reserves.
"The move is consistent with the strategy to focus on
providing content services that are important to many of its
customers," STC said in a statement posted on the Saudi bourse
website.
Intigral provides content on mobile phones, television and
the Internet for telecoms operators and Internet service
providers.
($1 = 3.7505 Saudi riyals)
(Reporting by Martina Fuchs and Matt Smith; Editing by Firouz
Sedarat)