Riyadh – Mubasher: Etihad Atheeb Telecommunication Company “Go” signed an agreement with Saudi Telecom Company (STC) to purchase a number of its towers at a value of SAR 230 million to enhance STC’s assets.
The book value of the agreement amounts to SAR 44 million, Go stated adding that the deal will be valid after obtaining the required regulatory approvals.
The Company said that it will determine the financial impact of the deal after revising it with its external reviser, according to a bourse filing on Monday.
Go clarified that the agreement will increase the other revenues to pay the company’s obligations and cover its needs.
