Etisalat to up Mobily stake

31 March 2010

Mohamad Omran, chairman of UAE's Etisalat, has unveiled plans to increase the company's 27% stake in Saudi Arabia's Etihad Etisalat (Mobily) by snapping up outstanding shares on the market, without providing further details. Mobily's s net profit for 2009 grew 44% to SR3.014bn, compared to the previous year.

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