Riyadh – Mubasher: Etihad Atheeb Communication “Go” signed a settlement agreement with ZTE Corporation.
Service supplier ZTE will waive SAR 110 million in receivables.
The financial impact of the agreement will be represented in SAR 22 million in the form of other revenues, resulted from waived commitments and assets, according to a bourse filing on Tuesday.
Atheeb will appoint a consultancy firm to evaluate the waived assets in terms of their fair value.
Moreover, Go signed an agreement with ZTE to raise the capacity and efficiency of the main network and infrastructure.
The deal’s value amounts to SAR 47 million and will be valid for 5 years, starting 28 July 2016, the statement said.
