Announced
Financials
Tags
Saudi Arabia
Minority
Cross Border
Payments / Commerce
Private
Friendly
online payment platform
Acquisition
payment platforms
Pending
Single Bidder
Synopsis
Western Union, a money transfer firm, agreed to acquire a 15% stake in STC Pay, digital payment unit of Saudi Telecom, a telecommunications company for $200m. The completion of the deal is conditional upon obtaining all regulatory approvals from relevant authorities. The acquisition of STC Pay will finance its capital and support long-term expansion plan.
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