GO to appeal court ruling on rejecting guarantee retrieval

Etihad Atheeb Telecommunication Co. (GO) said in a bourse statement on Tuesday that it will appeal before Riyadh’s Administrative Court a decision on rejecting its request to retrieve a SAR 50 million bank guarantee.

The rejection was received by the telecom operator on Mar. 27.

Related developments will be disclosed later on, GO added.

Last week, GO moved the Riyadh court to retrieve the SAR 50 million worth of bank guarantee which has been recently liquidated by the Communications and Information Technology Commission (CITC), Argaam reported.