1 Day
Source:
الاقتصادية
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Tawwal's Tower Acquisition Talks
Talal and Etihad Etisalat (Mobily) announced that they have initiated preliminary discussions regarding Mobily’s potential acquisition of communication towers owned by the company, but no binding agreements have been signed so far. Mobily clarified that these discussions are limited to a non-binding confidentiality agreement, and there is no final agreement in place, following rumors circulating on social media about the negotiations. At the same time, Mobily’s financial results showed an 11.6% increase in net profits last year, reaching 3.466 billion riyals. Although revenues in the second quarter declined by 1% compared to analyst expectations, operational efficiency improved despite the decrease in revenue.
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