Etisalat plans $2b buyback, shares climb

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

News

Etisalat slashes roaming rates for data, texts and calls

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

Etisalat clears full-year 2017 dividends of 80 fils per share

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

Etisalat, Idemia partner to enable remote SIM

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

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
STC 83.41 257,644
DARALARKAN 13.47 74,648,349

Valuation

ETISALAT Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Top Related Companies

Ticker Price Change
ORDS 82.51 -1.09 (-1.31%)
DU 4.91 0.01 (0.20%)
ZAIN 460.00 -2.00 (-0.44%)
VFQS 9.15 0.35 (3.97%)
OOREDOO 945.00 -20.00 (-2.08%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap