Reuters exclusively reports sovereign fund PIF considers Saudi Telecom stake sale

by DailyBriefers

Business & Finance

Reuters exclusively reported that Saudi Arabia’s Public Investment Fund (PIF) is considering divesting part of its stake in Saudi Telecom as the sovereign wealth fund seeks to monetize some of its assets. According to Reuters sources, the sovereign wealth fund has hired Goldman Sachs and the investment banking arm of Saudi National Bank to arrange the transaction. The PIF currently holds a 70% stake, worth about $50 billion, in Saudi Telecom.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Equities

Regions: Middle East

Countries: Saudi Arabia

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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