Al Babtain extends MoU with Saudi Egyptian Industrial

Saudi Egyptian Industrial Investment (SEII) to acquire a stake in Al Babtain Power and Telecommunication- Egypt

  
A trader works at the Egyptian stock exchange in Cairo, Egypt, . REUTERS/Mohamed Abd El Ghany

A trader works at the Egyptian stock exchange in Cairo, Egypt, . REUTERS/Mohamed Abd El Ghany

REUTERS/Mohamed Abd El Ghany

The renewal is due to the COVID-19 pandemic

ALBABTAIN
2320
 
-0.72%22.12-0.16

Riyadh – Mubasher: Al Babtain Power and Telecommunication Company has extended the Memorandum of Understanding (MoU) previously signed with the Saudi Egyptian Industrial Investment (SEII) to acquire a stake in Al Babtain Power and Telecommunication- Egypt.

The MoU has been renewed for an additional two months until 2 August 2020, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Wednesday.

The decision comes in light of the precautionary measures taken against the coronavirus (COVID-19) pandemic.

Further details in this respect will be provided in due course, the statement added.

Source: Mubasher

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