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STC Malay telco stake to fall
- Saudi Arabia: Thursday, November 12 - 2009 at 11:58
Saudi Telecom (STC) has said that its 25% stake in Malaysia's Maxis Bhd would fall to 17.5% after the nation's biggest mobile phone operator sells shares to the public, Reuters has reported. 'STC will announce the financial impact of the IPO on the Binariang Group after being reviewed by financial auditors,' STC said. Maxis Bhd is set to raise $3.3bn in Southeast Asia's biggest IPO ever.
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StaffThursday, November 12 - 2009 at 11:58 UAE local time (GMT+4)
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