TeleGeography Logo

Etisalat completes sale of Sudanese telco Canar

11 Aug 2016

Emirates Telecommunications Corporation (Etisalat) has announced the completion of the sale of its 92.3% stake in Sudanese fixed line operator Canar Telecommunication Company (Canar) to the Bank of Khartoum. The transaction was finalised on 7 August, after securing all regulatory approvals from Sudanese regulator the National Telecommunications Corporation (NTC) and the country’s competition authorities. UAE-based Etisalat added that the final consideration received for its shareholding amounted to AED349.6 million (USD95.2 million).

As previously reported by TeleGeography’s CommsUpdate, Etisalat signed a share purchase agreement with Kuwait-based Zain Group for the sale of its 92.3% stake in Canar in May 2016, but one month later, the UAE telecoms group announced that the Bank of Khartoum, which holds a 3.7% stake in Canar, had exercised its right of first refusal regarding the sale to Zain Group.

Sudan, Canar Telecommunication Company (Canar), Etisalat UAE

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.