Mobily ends hosting deal with Red Bull Mobile

09:12 AM (Mecca time) Argaam
Logo ofEtihad Etisalat Co. (Mobily)

Logo of Etihad Etisalat Co. (Mobily)

Etihad Etisalat Co. (Mobily) said it received a letter on Dec. 25 from Red Bull Mobile (Future Networks Communications Co.) stating its intention to discontinue the Mobile Virtual Network Operator (MVNO) hosting services project.

 

In a statement to Tadawul, Mobily said the termination will have no material impact on its financial results.

 

The company said the project’s suspension will not affect its strategic or operational targets, adding that it remains focused on executing its sustainable growth strategy and strengthening its market share in the telecommunications and IT sector, supporting continued strong financial performance in the current year and beyond.

 

Mobily noted that it reserves the right to take all necessary regulatory and legal actions in this regard, adding that any material developments will be disclosed in accordance with the relevant rules and regulations.

 

According to Argaam data, Mobily announced in September 2024 that it signed a hosting agreement with Red Bull Mobile, noting that the six-year contract was valued at more than 5% of its total revenues for 2023.

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