Riyadh – Mubasher: Etihad Etisalat Company (Mobily) and Saudi Telecom Company (STC) signed a Memorandum of Understanding (MoU) on Monday to jointly explore options for extracting value from their telecommunications tower in Saudi Arabia.
The signed agreement is objective to reducing their capital and operating expenditures, according to a bourse filing.
Both parties agreed to extend the MoU automatically for 30 consecutive calendar days.
“It is worth nothing that no significant costs have been incurred to date. Any substantial developments in this regard will be announced in due course,” the statement said.
