
Saudi Telecom Company (STC) has bought a 60 percent stake in Sale Distribution and Communications for SR208m ($55m) to strengthen its sales services, the telecom operator said on Wednesday. Riyadh-based Sale is a leading retailer of mobile telephone connections in Saudi Arabia, STC said in a statement it posted on the website of the Saudi bourse. The operator, which is partly state owned, said it would finance the sale itself.
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