UAE Emirates Post to buy Financial Services Company
UAE postal authority Emirates Post is nearing the purchase of a local financial services company with operations spreading across the Gulf Cooperation Council (GCC) states and some other Arab countries, it was reported on March 2, 2005.
The targeted company operates a network of some 42 branches. Emirates Post will announce officially the acquisition and the value of the deal within a one month period, the company’s director general, Abdullah Ibrahim al-Daboos, said, declining to mention the company’s name.
Al-Daboos also said that Emirates Post was to shortly announce the acquisition of a regional cargo and logistics company.
