{"id":86837,"date":"2024-06-04T00:00:00","date_gmt":"2024-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/stc-going-back-to-europe-in-search-of-new-assets\/"},"modified":"2024-06-04T00:00:00","modified_gmt":"2024-06-04T00:00:00","slug":"stc-going-back-to-europe-in-search-of-new-assets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/stc-going-back-to-europe-in-search-of-new-assets\/","title":{"rendered":"STC going back to Europe in search of new assets?"},"content":{"rendered":"

STC Group is reportedly mulling submitting an offer for Europe-based <\/strong>United Group<\/a><\/strong>, in a transaction that could value the telecom and pay-TV operator at USD 8.7 bn, Reuters<\/a> reports, citing three people it says are familiar with the matter. The sources did not provide further information on the size or value of the stake STC is looking to acquire.<\/p>\n

Not set in stone: <\/strong>STC has \u201cstarted early stage work\u201d on a potential transaction, but a formal offer is still not a certainty, one of the sources said. <\/p>\n

What\u2019s United Group? <\/strong>The \u201cleading multi-play telecoms and media provider in South East Europe\u201d currently operates in eight countries, according to its website<\/a>. The operator was acquired by a UK private equity firm BC Partners<\/a> in 2019. <\/p>\n

All part of a Europe push: <\/strong>Saudi\u2019s largest telecoms operator, which is 64% owned by the Public Investment Fund, grabbed a 9.9.% stake in Spain\u2019s Telefonica<\/a> last September to telecom giant\u2019s top shareholder, and have also reportedly submitted the highest binding offer<\/a> to acquire Altice Portugal, the largest telecom service provider in Portugal. STC subsidiary Tawal<\/a>, a leading integrated ICT infrastructure company in the MENA region, also agreed to buy<\/a> mobile tower infrastructure in Bulgaria, Croatia, and Slovenia worth EUR 1.2 bn from United Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

STC already has a foot in Europe, after acquiring a stake in Spain\u2019s Telefonica<\/p>\n","protected":false},"author":1,"featured_media":86838,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,14,1151,1407],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-ma-watch","tag-public-investment-fund-pif","tag-united-group","wpautop","entry"],"acf":{"mongo_id":"05335d82-86ba-4556-b5aa-a17f475a265c","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1097.jpg","photo_position":"above","homepage_title":"","full_issue_title":"STC could submit an offer for European telecom player United Group","related_issue":[86830],"teaser":"STC already has a foot in Europe, after acquiring a stake in Spain\u2019s Telefonica","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.b00617b9-cbc5-4b84-a8cd-77367451f377.mp3"},"yoast_head":"\nSTC going back to Europe in search of new assets? 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