RIYADH: Saudi Cable Co. has announced the establishment of a new legal entity in Bahrain after more than 20 years of operations in the market.
The firm signed the incorporation commercial registration of Saudi Cable Co. Bahrain as a standalone legal company on Sept. 6, according to a bourse filing.
The move comes as a step toward the cable group’s restructuring efforts.
“Establishing this new stand-alone legal entity at this key market will support the financial stability of operations and contribute to SCC's positioning and regional leadership,” the company said.
It added that it will reflect positively on its sales and shareholders’ equity.
