23 Hrs
Source:
الاقتصادية
Tawwal plans to buy Saudi Mobily towers
Tawal Saudi Arabia is in initial discussions with Etihad Etisalat "Mobily" regarding their potential acquisition of telecom towers owned by Mobily, according to a statement on Tadawul. No binding agreement has been signed yet; only a non-binding technical confidentiality agreement for the discussions. Meanwhile, Mobily's financial results showed an 11.6% increase in net profit last year, reaching 3.466 billion riyals, despite a 1% decline in revenue in the second quarter to 5.08 billion riyals, even as profit margins improved.
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