With reference to the announcement made by Etihad Etisalat Company ("Mobily") published on the Saudi Exchange website on 13/8/1443H (corresponding to 16/3/2022G) in respect of the approach from Emirates Telecommunications Group Company P.J.S.C ("e&") to discuss increasing its shareholding in Mobily to 50% plus one share by means of a pre-conditional partial tender offer (the "Potential Offer"), pursuant to the Merger and Acquisition Regulations issued by the Capital Market Authority (the "M&A Regulations").
Mobily announces that it has received a letter from e& stating the termination of discussion and not to pursue the potential transaction related to the possible increase in its shareholding in Mobily.
Simultaneously, e& confirmed in its letter that it takes pride in its enduring and prosperous partnership with Mobily, witnessing positive advancements in Mobily’s business across all sectors.
Previous AnnouncementEtihad Etisalat Company (Mobily) announces an approach by Emirates Telecommunications Group Company to discuss a potential offer by Emirates Telecommunications Group Company to increase its shareholding in Etihad Etisalat Company (Mobily)