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31 January 2017
| James Pearce
Saudi Telecom Company (STC) has struck a deal to buy mobile towers from Atheeb Telecommunication for $61 million.
Neither STC nor Atheeb revealed how many towers had been
sold as part of the deal, but the deal is the latest move from
an operator in the Kingdom.
STC said it would pay for the acquisition of the towers
using internal resources, meaning it would have "no material
impact" on its financial results, while Atheeb said the
financial impact of the deal would be shown in Q4 2017.
Last year, three Saudi telcos reportedly held talks about
creating a tower company in a bid to reduce costs. Etihad
Etisalat Mobily, Zain Saudi and Saudi Telecom began discussions
which could have saved as much as 70% on infrastructure
Zain is also reportedly looking to offload number of
towers in a number of markets, including Saudi Arabia, for
around $500 million.
Saudi Telecom Company,
Etihad Etisalat Mobily,