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Etihad Etisalat (Mobily), Saudi Arabia’s second-largest mobile phone operator, will buy local internet and data communication provider Zajil for 80 million riyals ($21.33 million), it said yesterday. Mobily has won approval from Saudi Arabia’s telecom watchdog for the transaction involving 96 per cent of Zajil International Telecom Company’s capital, Mobily said in a statement posted on the Saudi bourse’s web site.
It is Mobily’s second acquisition in less than a year after it agreed in September to buy local data provider Bayanat al-Oula for $400 million. The Zajil deal will enable Mobily to “provide integrated and highly-efficient telecom solutions”, it said, without giving further financial details. Mobily has been seeking to make an aggressive entry into the data and internet segment.
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