02 May 2016
Abu Dhabi - On 1 May 2016, Etisalat Group and The Sudanese Mobile Telephone (Zain) Company Limited ("Zain Sudan") signed a Share Purchase Agreement for the sale of Etisalat Group's 92.3% shareholding in Canar Telecommunication Company Limited ("Canar").

Under the terms of the Share Purchase Agreement, Etisalat Group will receive a total cash consideration upon completion of the transaction of AED 349.6 million.

The transaction remains subject to certain conditions, including the approval of the Sudanese National Telecommunications Corporation and the Sudanese competition authorities.

Should there be any material developments on this subject, a further announcement will be made in accordance with applicable Abu Dhabi Securities and Exchange rules and regulations. 

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© Press Release 2016