Riyadh – Mubasher: Etihad Etisalat Company (Mobily) announced acquiring 100 MegaHertZ (MHZ) of the additional spectrum in the 3.5 gigahertz (GHz) spectrum in a bid to prop up the efficiency of spreading fifth generation (5G) network over the coming period.
The move is expected to provide high-end internet services in the kingdom, according to Mobily’s statement.
Mobily's new acquisition will support the firm’s network and help in spreading 5G network technology, Salman Al Badran, the Saudi telecom operator’s CEO, said.
In February, Mobily inked a deal with Huawei to develop the quality of the kingdom-based telecom firm’s services and reduce operating costs of networks.
The Tadawul-listed company last reported turning profitable during the fourth quarter of 2018, logging SAR 80 million, against a loss of SAR 182 million during Q4-17.
The Saudi telecoms operator signed a contract with Nokia Company in March 2018 to start 5G tests in Saudi Arabia.
In mid-April 2018, Mobily launched 5G wireless technology in Riyadh Gallery mall for the first time in the kingdom.
By 1:12 pm Saudi time, Mobily’s stock levelled up 0.17% to SAR 23.04.
