Emirates Telecommunications Corporation (Etisalat) has announced that the Bank of Khartoum has exercised its right of first refusal regarding the sale of the UAE telco’s entire shareholding in Sudanese fixed line operator Canar Telecommunication Company (Canar) to Zain Group, which was announced last month. The Bank of Khartoum, which holds a 3.7% stake in Canar, has signed an agreement with Etisalat to purchase its 92.3% shareholding in the Sudanese operator for a total cash consideration of AED349.6 million (USD95.2 million), implying a price per share of AED17.50. The transaction remains subject to certain conditions, including the approval of Sudanese regulator the National Telecommunications Corporation (NTC) and the country’s competition authorities.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors