PIF mulling a partial divestment of its stc stake

23 Jun 2021

Saudi Arabia’s Public Investment Fund (PIF) has reportedly appointed two banks to investigate the potential sale of some of its majority shareholding in Saudi Telecom Company (stc), Reuters writes. According to unnamed sources familiar with the matter, the PIF is assessing the divestment of a ‘substantial’ portion of its stake as part of a wider strategy of cashing-in on mature assets in favour of new investments. TeleGeography notes that the PIF currently holds a 70% stake in stc.

Saudi Arabia, Saudi Telecom Company (stc)