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Mobily eyeing Atheeb stake

Bayanat al-Oula, wholly owned by Saudi Arabia's second-largest mobile operator, Etihad Etisalat (Mobily), has signed a memorandum of understanding with four shareholders in Etihad Atheeb to buy a controlling interest in the loss-making fixed line operator, Reuters has reported. The agreement requires regulatory approvals to be obtained and for Bayanat to complete due diligence by November 30. Batelco has a 15% stake in Etihad Atheeb and it is unclear whether the company plans to sell.