Reported 23 days ago
The Middle East’s largest broadcaster experienced a 10% surge in Saudi Arabia after the Public Investment Fund (PIF) announced its decision to acquire a 54% stake in MBC Group from the Saudi government for approximately $2 billion. This acquisition, based at Thursday’s closing price, reflects ongoing government asset transfers to the PIF, which is central to Saudi Arabia’s Vision 2030 economic diversification efforts.
Source: YAHOO