DUBAI: Saudi Telecom Co (STC) has offered to buy the shares in Sale Advanced Co it does not already own for 400 million riyals ($106.6 million), it said in a statement on Sunday.
STC's bid for the 40 percent stake held by Ethad Sale will be financed by the company's own resources, it said, adding that the financial impact of the deal will be announced at a later
stage.
STC already owns 60 percent of Riyadh-based SaleCo, which offers sales services through all distribution channel networks located in Saudi Arabia and the Gulf states, the statement
added.
($1 = 3.7510 riyals)
Reuters
