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Riyadh – Mubasher: The ordinary general assembly meeting of Etihad Etisalat Company (Mobily) has approved a SAR 7.6 billion refinancing Murabaha facility agreement for seven years with a number of local banks.
Shareholders also approved the financial statements for 2019, as well as the auditor and board’s reports, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
Business and contracts made with Emirates Telecommunications Group Company (Etisalat), a main shareholder in Mobily, was also approved during the meeting.
Last year, Mobily achieved a net profit of SAR 31 million. It was the first time in five years for the telecom company to achieve profits, after recording losses of SAR 123 million in 2018.
Source: Mubasher
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