Saudi Telecom-Mobily tower ops to cost SAR 15 bln, says official

Joint telecom towers for Saudi Telecom Co. (STC) and Etihad Etisalat Co. (Mobily) could be operated at a total cost of nearly SAR 15 billion, STC’s board member Abdul-Rahman Mazi told Al-Arabiya TV.

The joint agreement reached by both companies to explore options for their tower portfolios would positively reflect on cutting costs and enhancing operating efficiency.

Tower sharing will help in reducing operating costs and freeing abundant cash, which will be utilized in other fields, Mazi said.

He said that the deal would likely be restricted to transmitter towers, adding that it might facilitate other sharing agreements between Saudi telcos.

Earlier this week, STC and Mobily inked an agreement to jointly explore options for their tower portfolios, Argaam reported.