Company Insights Etisalat / e& Telecoms Etisalat / e& News Tech STC buys 9.9% of Spain’s Telefonica for $2.25bn Saudi telecoms conglomerate STC Group has acquired a 9.9 percent stake in Spain’s Telefonica for SAR8.5 billion ($2.25 billion) as part of its global expansion drive. The investment makes the Saudi listed company the top shareholder in the Spanish telecom major after Spanish bank BBVA’s 4.9 percent holding. The holding comprises 4.9 percent of Telefonica’s […] September 6, 2023 Analysis Trade Aid turns to trade as UAE plans Ethiopia investments The UAE is planning to increase its investments in Ethiopia as the economic relationship between the two countries evolves from aid to trade. More than a dozen memoranda of understanding were signed between public and private entities in Addis Ababa during an official visit to Ethiopia by UAE President Sheikh Mohamed bin Zayed al Nahyan […] August 21, 2023 Analysis Transport Careem could yet be hailed a smart buy for Uber The hefty premium Uber paid for Dubai ride-hailing rival Careem will prove worth it in the long run, analysts believe. Uber, which has racked up nearly $33 billion in losses since its inception in 2009, paid $3.1 billion for Careem in January 2020 in what remains the largest deal for a homegrown Gulf tech startup. […] August 16, 2023 Tech e& plans 20% Vodafone stake despite latest profit hit UAE telecom operator e& has proposed to increase its stake in Vodafone, despite blaming its multibillion-dollar investment in its British rival for a drop in half-year net profit. Hatem Dowidar, e&’s CEO, told CNBC Arabia on Wednesday the telco has submitted an offer to increase its stake in Vodafone to 20 percent.“We are hopeful to […] August 2, 2023 Tech e& subsidiary buys majority stake in Beehive for $24m e& enterprise, a subsidiary of the UAE’s telecom major e&, has acquired a majority stake in Dubai’s online peer-to-peer lending platform Beehive. The company bought 63.3 percent of Beehive for $23.6 million, according to a statement from e& – formerly known as Etisalat – published on the Abu Dhabi Securities Exchange. “Beehive will be consolidated […] August 1, 2023 Tech Du parent posts Q2 profit surge as customers hit 8m Emirates Integrated Telecommunications Company (EITC), which operates the Du and Virgin Mobile brands in the UAE, reported a 31 percent increase in net profit on Wednesday. The growth was on the back of strong demand for mobile and fixed broadband services. Profits totalled AED397 million ($108 million) in the second quarter. Revenue rose by nearly […] July 26, 2023 Banking and Finance Etisalat confirms interest in Ethiopian telco Ethio Telecoms giant Etisalat (rebranded as e&) confirmed on Tuesday that it is considering buying a stake in Ethio, a state-controlled operator in Ethiopia. The Abu Dhabi-based company, which is now branded e&, said in a filing to the stock exchange that it was “at an early stage” of assessing a bid. The statement from the […] July 11, 2023 Banking and Finance Etisalat may bid for stake in Ethiopian telco Abu Dhabi-listed Etisalat, now branded as e&, is planning to bid for a 45 percent stake in Ethio, a state-controlled telecom operator in Ethiopia. The UAE’s telecom company is talking to advisers, Bloomberg reported citing informed sources. France’s Orange SA is also weighing the option to bid for a similar stake. Talks are at an […] July 7, 2023 Banking and Finance Etisalat in talks with Czech firm for potential tie-ups Abu Dhabi-headquartered Etisalat, now branded as e&, is in talks with Czech investment firm PPF Group to explore opportunities in central and southeastern Europe. “Etisalat and PPF Group are in early stage of discussions of forming a potential partnership to explore strategic collaboration opportunities in central and southeastern Europe, excluding Czech Republic, that are mutually […] July 3, 2023 Banking and Finance Shares in Etisalat slide after Vodafone’s UK deal Shares in UAE telco Etisalat, Vodafone’s biggest shareholder, fell on Thursday after the British firm announced it would merge its domestic mobile operations with those of rival CK Hutchison. The long-anticipated tie-up heightens uncertainty over the potential benefits to Abu Dhabi-based Etisalat, now branded as e&, of its stake in Vodafone. Since first announcing it […] June 15, 2023 Posts navigation Previous 1 … 4 5 6 … 8 Next
Tech STC buys 9.9% of Spain’s Telefonica for $2.25bn Saudi telecoms conglomerate STC Group has acquired a 9.9 percent stake in Spain’s Telefonica for SAR8.5 billion ($2.25 billion) as part of its global expansion drive. The investment makes the Saudi listed company the top shareholder in the Spanish telecom major after Spanish bank BBVA’s 4.9 percent holding. The holding comprises 4.9 percent of Telefonica’s […] September 6, 2023
Analysis Trade Aid turns to trade as UAE plans Ethiopia investments The UAE is planning to increase its investments in Ethiopia as the economic relationship between the two countries evolves from aid to trade. More than a dozen memoranda of understanding were signed between public and private entities in Addis Ababa during an official visit to Ethiopia by UAE President Sheikh Mohamed bin Zayed al Nahyan […] August 21, 2023
Analysis Transport Careem could yet be hailed a smart buy for Uber The hefty premium Uber paid for Dubai ride-hailing rival Careem will prove worth it in the long run, analysts believe. Uber, which has racked up nearly $33 billion in losses since its inception in 2009, paid $3.1 billion for Careem in January 2020 in what remains the largest deal for a homegrown Gulf tech startup. […] August 16, 2023
Tech e& plans 20% Vodafone stake despite latest profit hit UAE telecom operator e& has proposed to increase its stake in Vodafone, despite blaming its multibillion-dollar investment in its British rival for a drop in half-year net profit. Hatem Dowidar, e&’s CEO, told CNBC Arabia on Wednesday the telco has submitted an offer to increase its stake in Vodafone to 20 percent.“We are hopeful to […] August 2, 2023
Tech e& subsidiary buys majority stake in Beehive for $24m e& enterprise, a subsidiary of the UAE’s telecom major e&, has acquired a majority stake in Dubai’s online peer-to-peer lending platform Beehive. The company bought 63.3 percent of Beehive for $23.6 million, according to a statement from e& – formerly known as Etisalat – published on the Abu Dhabi Securities Exchange. “Beehive will be consolidated […] August 1, 2023
Tech Du parent posts Q2 profit surge as customers hit 8m Emirates Integrated Telecommunications Company (EITC), which operates the Du and Virgin Mobile brands in the UAE, reported a 31 percent increase in net profit on Wednesday. The growth was on the back of strong demand for mobile and fixed broadband services. Profits totalled AED397 million ($108 million) in the second quarter. Revenue rose by nearly […] July 26, 2023
Banking and Finance Etisalat confirms interest in Ethiopian telco Ethio Telecoms giant Etisalat (rebranded as e&) confirmed on Tuesday that it is considering buying a stake in Ethio, a state-controlled operator in Ethiopia. The Abu Dhabi-based company, which is now branded e&, said in a filing to the stock exchange that it was “at an early stage” of assessing a bid. The statement from the […] July 11, 2023
Banking and Finance Etisalat may bid for stake in Ethiopian telco Abu Dhabi-listed Etisalat, now branded as e&, is planning to bid for a 45 percent stake in Ethio, a state-controlled telecom operator in Ethiopia. The UAE’s telecom company is talking to advisers, Bloomberg reported citing informed sources. France’s Orange SA is also weighing the option to bid for a similar stake. Talks are at an […] July 7, 2023
Banking and Finance Etisalat in talks with Czech firm for potential tie-ups Abu Dhabi-headquartered Etisalat, now branded as e&, is in talks with Czech investment firm PPF Group to explore opportunities in central and southeastern Europe. “Etisalat and PPF Group are in early stage of discussions of forming a potential partnership to explore strategic collaboration opportunities in central and southeastern Europe, excluding Czech Republic, that are mutually […] July 3, 2023
Banking and Finance Shares in Etisalat slide after Vodafone’s UK deal Shares in UAE telco Etisalat, Vodafone’s biggest shareholder, fell on Thursday after the British firm announced it would merge its domestic mobile operations with those of rival CK Hutchison. The long-anticipated tie-up heightens uncertainty over the potential benefits to Abu Dhabi-based Etisalat, now branded as e&, of its stake in Vodafone. Since first announcing it […] June 15, 2023
