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Etisalat offloads Thuraya stake to Yahsat

3 Aug 2018

United Arab Emirates (UAE)-based telco Etisalat has completed the sale of its 28.04% stake in satellite communications provider Thuraya for AED137 million (USD37 million). Its shares were acquired by Star Satellite Communications, a unit of Al Yah Satellite Communications (Yahsat), under an agreement first announced in April this year. According to Etisalat, the deal takes Yahsat’s stake in Thuraya to over 75%. Both Thuraya and Yahsat are based in the UAE, and together the two companies operate five satellites which cover Europe, Africa, the Middle East, South America and Asia.

United Arab Emirates, e& (formerly Etisalat Group), Thuraya, Yahsat

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