Riyadh – Mubasher: Etihad Etisalat Co (Mobily) has successfully acquired 2x5 MHz block size in the 1800 MHz band by taking part in the auction conducted by the Communications and Information Technology Commission (CITC) on 23 May.
The CITC announced the results on 6 June 2017, disclosing that the value of the spectrum acquired by Mobily is worth SAR 422 million; 30% of the value will be paid within 90 days after the conclusion of the auction, while the remaining 70% will be paid in equal annual instalments over a ten-year period, according to a bourse statement issued on Thursday.
The acquisition will be funded from Mobily's cash flows and available facilities, the company said, noting that the additional spectrum will be available at the beginning of 2018.
This spectrum takeover will allow Mobily to expand its network capacity, improve its customer experience, and contain its future capital expenditure.
