Mobily eyes $2bn from sale of transmitter towers

Saudi Arabian telco said sale of 10,000 sites could be complicated
  Ahmad Farroukh, CEO at Etihad Etisalat Co.
Ahmad Farroukh, CEO at Etihad Etisalat Co.


Saudi Arabia’s telecommunications operator Etihad Etisalat Co, known as Mobily, is reviewing offers for its mobile transmitter towers in a bid to increase profits, a company official has said.

Ahmad Farroukh, CEO at Etihad Etisalat Co, told to Bloomberg that Etihad Etisalat was not "after a deal for the sake of a deal.”

“It’s a complicated thing. You have to go to each and every of our 10,000 sites, negotiate the rent with 10,000 landlords and have the consent for them to move to the new tower company."

Digital Bridge Holdings, a company that owns about 10,000 towers in the kingdom, is among the bidders for for Etihad Etisalat’s tower portfolio, which is expected to reach a sale price of as much as $2 billion, Bloomberg reported.

"We received certain indicative offers," Farroukh added. "If the deal is good for our shareholders, for sure I’ll bring it on the table."

Saudi Arabia’s other two operators, Zain Saudi Arabia and Saudi Telecom Co, are also "thinking of the same," he said.

Telecoms operators are increasingly keen to dispose of towers that now provide little competitive advantage due to broadly similar network quality and coverage, Reuters reported recently.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story