Text size:

  • Small
  • Normal
  • Large
Emirates Airline was named in the top 10 first class cabins by therichest.com. Find out what position it came here.

STC boosts stake in UAE firm Intigral

Saudi Telecom Company buys an additional stake in the media firm Intigral for 90 million riyals.

Saudi Telecom has spent 90 million riyals (Dh88.1m) boosting its stake in the media company Intigral, which operates the Saudi firm's television service.

The company, also known as STC, said it had increased its stake in Intigral, which is based in Dubai, to 71 per cent from 51 per cent.

It acquired the 20 per cent stake in Intigral held by the publishing company Saudi Research & Marketing Group (SRMG).

Ghassan Hasbani, STC's chief executive of international operations, said the deal came about through "mutual agreement" with SRMG, which has now exited its holding in Intigral.

In a statement sent to The National, STC said the move was "in line with its strategy to focus on content services that are of primary importance to its customers". Intigral buys the rights to film and television content and encodes it for delivery over internet protocol television (IPTV) and via mobile devices. It also censors content according to its clients' instructions.

The company provides STC's InvisionTV service, which is similar to the broadband TV services provided by Etisalat and du in the UAE.

Intigral is "extremely relevant to our future business", Mr Hasbani said.

Intigral declined to comment when contacted by The National.

The Malaysian media company Astro remains a shareholder in Intigral after the exit of SRMG.

The market responded positively to the news. SRMG, which is traded on the Saudi stock exchange, closed up 8.89 per cent at 19.55 riyals. STC edged up 0.3 per cent to 33.40 riyals.

An Intigral executive told The Nationallast month that STC's IPTV service had 20,000 subscribers. The executive expected the number of subscribers to grow to between 70,000 and 90,000 next year.

In addition to its mobile TV and IPTV services in Saudi Arabia, Intigral also provides mobile TV service in Bahrain and Kuwait.

The company has said it is in discussions with "various operators" in the region to provide similar services.

 

bflanagan@thenational.ae

Back to the top

More articles


Editor's Picks

 Marina Square apartments Reem Island: Q1 2% rise. Studio - Dh65-68,000. 1BR - Dh75-95,000. 2BR - Dh110-145,000. 3BR - Dh170-190,000. Q1 2013-Q1 2014 no change. Sammy Dallal / The National

In pictures: Where Abu Dhabi rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Abu Dhabi have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 A Brabus Mercedes 6x6 Sports Utility Vehicle is readied for display during Auto China 2014 in Beijing, on April 20. Adrian Bradshaw / EPA

In pictures: Auto China 2014 exhibition

Leading automakers have gathered in Beijing for the kickoff of China’s biggest car show, but lacklustre growth and environmental restrictions in the world’s largest car market have thrown uncertainty into the mix. More than 1,100 vehicles are being showcased.

 The New York Stock Exchange. Rising interest rates will shift momentum away from bonds and back towards risk assets such as stocks. Richard Drew / AP Photo

Plan ahead for rising interest rates

It is now over five years since the majory central banks slashed interest rates to record low but that is all about to change. So, how will rising interest rates affect you?

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.

Events

To add your event to The National listings, click here

Get the most from The National