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Sun 22 Apr 2007 12:00 AM

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STC buys AlwalNet

Saudi Telecommunications has paid US$26.37m for a 97% stake in local internet provider AwalNet.

Saudi Telecommunications has paid US$26.37m for a 97% stake in local internet provider AwalNet. STC is aiming for one million internet subscribers by the end of 2007, up from 300,000 at the end of the first quarter.

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