Etisalat completes sale of 28% shareholding in Thuraya Telecom
The stake sale was done for $37 million
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Dubai: Etisalat said on Thursday it has completed the sale of 28.042 per cent direct shareholding in Thuraya Telecom to the Star Satellite Communications owned by Al Yah Satellite for $37 million (Dh135.79 million).
The final consideration amounted to $0.0553 per share, the company said in a statement posted on Abu Dhabi Financial Market’s website.
The deal was done after securing all regulatory approvals and Yahsat’s condition of acquiring at least 75 per cent ownership in Thuraya.
Etisalat shares closed one per cent lower to Dh16.95.
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