Further to the announcement published on Tadawul's website on 21-08-2013 related to THE POSSIBILITY OF ACQUIRing AN INTEREST IN THE ETIHAD ATHEEB TELECOM (GO) Etihad Etisalat Co announces addendum as :We refer to the signing of a memorandum of understanding (MOU) on 20 August 2013 between a subsidiary of Etihad Telecom Company (Mobily) (namely Bayanat Al-Oula Network Services Company (Bayanat)) and certain founding shareholders of Etihad Atheeb Telecom Company (Go) (EATC) (namely Atheeb Trading Company, Al Nahla for Trading and Contracting Company, Traco Group for Trading and Contracting and Saudi Internet Company) in connection with the proposed acquisition by Bayanat of a controlling stake in EATC. The MoU provides - among other things - that the said acquisition is subject to certain conditions being satisfied prior to 30 November 2013 (Long Stop Date), including obtaining necessary regulatory clearances including from the CITC, completing commercial, financial, technical and legal due diligence to the satisfaction of Bayanat and the entry by the relevant parties into definitive agreements in respect of the proposed transaction. We hereby announce that Bayanat and the above mentioned EATC founding shareholders have agreed, in addition to cancelling any exclusivity undertakings between the MoU parties in respect of the proposed transaction - as requested by the above mentioned EATC founding shareholders, to amend the MOU by extending the period ending on the Long Stop Date by a further sixty (60) days as requested by Bayanat and therefore the Long Stop Date will be 30 January 2014 instead of 30 November 2013.
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