Riyadh - Mubasher: The deputy chairman and CEO of the Saudi Mobile Telecommunications Company (Zain), Badr Al Kharafi said that Omantel’s acquisition deal 0will raise the company’s liquidity from $512 million to $1.15 billion.
Al Kharafi added in an interview with Al Arabiya that cash flows to the company will improve after the deal that will represents 10% of the Zain’s shares, adding that the money will be directed towards upgrading the network and investing in the fifth generation networks (5G), with a focus on smart cities.
The CEO also noted that there might be some surprises soon, including revenues, profits, and cash dividends, as well as the Omantel deal.
