JEDDAH: Saudi Arabia’s second-biggest telecoms operator, Mobily, has extended talks with four shareholders in Etihad Atheeb until Jan. 30 as it seeks to buy their stakes in the loss-making fixed-line operator.

If completed, it would give Mobily majority control of Atheeb and enable it to provide fixed-line services directly, helping it retain customers and draw new ones with bundled packages of Internet, television and phone calls.

In August, Mobily said wholly-owned subsidiary Bayanat Al-Oula had signed a memorandum of understanding with four Atheeb shareholders — Atheeb Trading Co., Al-Nahla Group, Traco Group for Trading and Contracting and Saudi Internet Co. — to acquire a majority stake in Atheeb.

The memorandum set a Nov. 30 deadline to get the necessary regulatory approvals and complete commercial, financial, technical and legal due diligence but this has now been pushed to Jan. 30, according to a statement to Saudi Arabia’s bourse.