Page 24 - SAMENA Trends - June-July 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

stc Concludes Due Diligence Study on Vodafone Egypt Stake Acquisition

Saudi Arabian telecoms operator Saudi previously reported by CommsUpdate, in upon signing of the definitive agreements.
Telecom Company (stc) has reportedly January 2020 stc signed a non-binding While the MoU was initially effective for 75
completed a due diligence study regarding memorandum of understanding (MoU) days, it was subsequently extended in April
its proposed acquisition of Vodafone with Vodafone Group to acquire its holding by a further 90 days due to the ‘logistical
Group’s majority stake in Vodafone Egypt. in Vodafone Egypt. At that date it was challenges caused by the COVID-19
According to MENAFN, stc’s financial noted that the two parties had agreed on pandemic’. Meanwhile, the report cites
advisors will now review the study with a a cash consideration of USD2.392 billion unnamed sources as saying that stc is
view to making a final decision on the value for Vodafone’s shareholding, equivalent to not interested in acquiring the almost 45%
of the mandatory offer that will be submitted an enterprise value for 100% of Vodafone stake which Telecom Egypt currently holds
to Vodafone Group for its approximate Egypt of USD4.350 billion; the final in Vodafone Egypt.
55% stake in the Egyptian cellco. As consideration will, however, be determined

Batelco Launches Cloud Unified Communications

Batelco, the leading digital solutions “Batelco is providing the tools to fit the customers will be able to access all Unified
provider in Bahrain announced the launch of modern and agile work style, helping Communications capabilities, thereby
its latest digital enterprise solution, Batelco users who are constantly on the go and reducing maintenance and operational
Cloud Unified Communications, which is working remotely from any location to be costs and increasing efficiency for Batelco
set to provide enterprise customers with more flexible, as their office is with them customers. Batelco continuously strives
access to communication, collaboration wherever they go. We believe that it’s the to introduce the latest telecom and digital
and productivity capabilities without the perfect time to launch this product as it solutions in the Kingdom that will not only
need for investing in costly equipment. meets all of these requirements,” he added. add value to customers’ experience, but
Batelco's Unified Cloud Solution will provide The newly launched solution will be hosted also contribute towards the efficiency of
enterprise customers with the opportunity in Batelco’s private cloud from which the customers’ businesses.
to benefit from a wide range of features
including business instant messaging,
voice and video calls, conferencing, as
well as many other collaboration tools.
The solution also offers customers the
convenience of switching in real-time
between different devices effortlessly
from any location and is characterized
by ease of use, reliability and flexibility.
Commenting on the launch, Abderrahmane
Mounir, Batelco GM Enterprise said,
“We are pleased to be launching this
innovative new solution through which
we aim to support the advancement of
the local telecommunications industry.
Cloud Unified Communications is part of
Batelco’s digital communications product
portfolio introduced for our enterprise
customers and enabling us to support
their digital transformation journey.”

24 JUNE-JULY 2020