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07/03/2018 05:55 AST
Etisalat, the biggest telecommunications company in the UAE, is seeking to buy back stock valued at as much as $2 billion. The shares climbed.
The board of Emirates Telecommunications Group, also known as Etisalat, recommended purchasing up to five per cent of the phone operator's paid-up capital, or 434.8 million shares, the Abu Dhabi-based company said in a statement. The buyback is intended for canceling or reselling the shares, it said, without providing the terms.
Etisalat, which competes with Dubai-based Du at home, runs operations in countries ranging from Pakistan to Egypt. It has a market capitalisation of Dh151 billion ($41 billion), and based on Monday's closing share price the buyback will be valued at Dh7.5 billion.
The shares advanced as much as 4.1 per cent, the most in more than than year, in Abu Dhabi. The board's recommendation is subject to shareholders' approval at a general assembly meeting scheduled for March 21.
Gulf News
03/04/2018
Etisalat has announced it has reduced its roaming rates for voice calls, SMS and data starting from April 1.
It said in a statement that pre- and post-paid customers will benefit discounte
The National
22/03/2018
At Etisalat's annual general meeting, held at the company's headquarters in Abu Dhabi, shareholders have backed the board's recommendation to pay full-year 2017 dividends of 80 fils per share. The AG
The Gulf Today
02/03/2018
Etisalat has partnered with Idemia, a provider of eSIM orchestration technology to offer remote SIM provisioning that will allow consumers to store multiple user profiles on a device simultaneously a
Trade Arabia
| Ticker | Price | Volume |
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10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia