Saudi Telecom Co (STC) has begun steps to sell its Indonesian business, banking sources said on Monday, as the state-owned firm posted a 41-percent drop in second-quarter profit.
Saudi Telecom has invested heavily in its Indonesia
Qatar Telecom (Qtel) group's net profit decreased 12.2 per cent to QR711.4 million ($195.37 million) in Q1, compared to QR810.8 million during the same period last year, mainly due to foreign exchange losses in its Indonesian unit, the
Saudi Telecom Company (STC), the Kingdom's leading telecom company, will embark on a major acquisition drive in the Middle East region in the short term, according to a top financial expert.
Riyadh Capital Group in latest report said&n
Saudi Telecom Company (STC), said its Indonesian unit Axis has secured $1.2 billion in financing to help fund its expansion and growth strategies for the next five years.
The finance deal, with a tenor of seven and a half years, involves s