The UAE's Etisalat announced the signing of an agreement with elGrocer Ltd. to acquire 100% of the latter's online platform.
Etisalat said in a statement to the Abu Dhabi Financial Market, today, Thursday, that the acquisition will support the company in its digital ambitions.
The strong presence of Grocer LTE in the UAE will enhance the Etisalat services available to customers in the country under the Samamat brand.
Etisalat indicated that this acquisition will be financed in cash, and that the financial impact is not significant compared to the financial statements of the UAE group.
