HiWeb Signs Merger Deal With Pars Online
Economy, Business And Markets

HiWeb Signs Merger Deal With Pars Online

HiWeb, one of Iran’s largest Internet service providers, has signed a merger agreement with its archrival Pars Online. The agreement was officially signed late Saturday by the two ISPs’ managing directors, Bourse Press reported. The unavailability of the deal’s financial details prompted stock market regulators to freeze HiWeb’s trading ticker in Sunday trade until further notice. HiWeb responded later in the day through a letter to the Securities and Exchange Organization that although the agreement was cemented by the two parties, its finalization depends on Communication Regulatory Authority’s approval, adding that the process could take up to a month. Accordingly, all financial details “will be publicized as soon as possible”. HiWeb signed a non-equity “partner market agreement” with Britain’s biggest mobile operator Vodafone last October, which is one of the most advanced ISPs in terms of investment in infrastructure and offers. The 4-trillion-rial ($100 million) ISP floated 10% of its shares through its initial public offering on TSE back in Sept. 13. Its stakes are currently priced at 4,795 rials per share.

Short URL : https://goo.gl/rf4bxn
  1. https://goo.gl/ji46cm
  • https://goo.gl/rqUrjs
  • https://goo.gl/dKAX8p
  • https://goo.gl/pFzYGB
  • https://goo.gl/7PifFt

You can also read ...

Experts believe the import ban would lead to a further rise in smuggling and market disruption.
The government has banned the import of 1,339 commodities...
CBI, Capital Market Agree to Control  Gold Coin Bull Run
As gold coin prices are skyrocketing, the Central Bank of Iran...
$1.5b in Tax Evasion Identified From Bank Accounts
About 63 trillion rials ($1.49 billion) worth of unpaid tax...
Mohammad Javad Zarif (4th L) addressed representatives of Iran Chamber of Commerce, Industries, Mines and Agriculture on June 24. (Photo: Bahareh Taghiabadi )
Foreign Minister Mohammad Javad Zarif assured the business...
Top US Court Restricts Police on Cellphone Location Data
The US Supreme Court on Friday imposed limits on the ability...
Iran Explores Int’l Space Collaborations at UN Meeting
Officials with Iran Space Agency participated in the two-day...
Xiaomi’s Hong Kong IPO
Xiaomi, one of the world’s leading smartphone makers, is...
Beverage Can Imports at  $21 Million
More than 2,890 tons of beverage cans worth more than $21...

Add new comment

Read our comment policy before posting your viewpoints