Court asks CITC to unlock GO’s SAR 50 mln bank guarantee

Riyadh Administrative Court has asked Communications and Information Technology Commission (CITC) to unlock Etihad Atheeb Telecommunication Co’s (GO) bank guarantee worth SAR 50 million, until the court issues a final ruling.

The court will consider GO’s appeal against the Saudi telecom operator on March 12, the company said in a statement to Tadawul.

Earlier this month, the court rejected GO’s appeal to suspend CITC's decision on retrieving the spectrum awarded to the telco in June 2017.

The company secured 2×10MHz in the 700MHz band, in addition to a paired 10MHz block in the 1800MHz band, for SAR 2.1 billion, with 15-year validity (from 1 January 2018).