Reference to the Saudi Telecom Company (the company) announcement on Tadawul website on 16/03/1437 H corresponding to 27/12/2015 AD, regarding the offer to acquire the remaining stake in the Sale Advanced company (Saleco) representing 40% of the company capital, the company announced that in 19/4/1438H corresponding to 17/1/2017 AD has completed the necessary procedures for the purchase and transfer the ownership of the remaining stakes in Sale Advanced company to be (100%) owned by Saudi Telecom Company in the amount and of (400) million Saudi Riyals. The company will be self financing the acquisition cost and this transaction will have no substantial financial impact on the upcoming STC financial results and there is no financial liabilities on the company. (Saleco) company is a Saudi company located in Riyadh providing sales services through Point of Sale networks throughout the Kingdom and the Gulf states.
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