The Clap
Zain KSA has finalized the sale of its remaining 20% interest in Golden Lattice Investment Company (GLIC) to the Public Investment Fund (PIF) for SAR 726 million.
What
Last October, Zain received a request from the Public Investment Fund to exercise the right to purchase the stake it owns in GLIC, the company that focuses on providing wholesale services to infrastructure.
So What
This transaction marks a significant step for the telecom giant, as it aims to channel the expected net profit of SAR 121 million into strategic investments within its core operations and enhance shareholder value.
Now What
The move is designed to concentrate financial resources on Zain’s primary telecom activities and to strengthen its market position.
