Etihad Atheeb Telecommunication Co. (GO) said it received a letter on Tuesday from the Saudi Communications and Information Technology Commission (CITC) stating that the commission has retrieved the additional spectrum acquired by GO in an auction conducted in June.

 

CITC’s decision came after Etihad Atheeb failed to pay the first installment of the total value of allocated spectrum, the telecom company said in a bourse statement.

 

Etihad Atheeb said it will take all necessary procedures to protect shareholders’ interests, however, the financial impact cannot be assessed at the current time.

 

Last June, Atheeb Telecom had acquired additional spectrum for SAR 21 billion in an auction conducted by CITC.

 

The first installment represents 30 percent of the total amount, or SAR 619 million.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2025, Argaam Investment, All Rights Reserved
Call Request