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Wednesday, 5 October 2016

MIDEAST STOCKS-Saudi telcos diverge, rest of region weak | Reuters

MIDEAST STOCKS-Saudi telcos diverge, rest of region weak | Reuters:

"Saudi Arabia's top three telecommunication operators suffered mixed fortunes on Wednesday after all three had risen in heavy trade the previous day while other markets in the region sagged.

Mobile Telecommunication Company (Zain KSA) jumped 6.8 percent, taking its gains since Sunday to 17 percent. Its chief competitor Saudi Telecom (STC) retreated 2.8 percent on Wednesday morning and Etihad Eisalat was down 1.3 percent.

On Sunday the government said it will provide operators with "unified licences" allowing them to offer a full range of telecommunications services."



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