Riyadh – Mubasher: Etihad Etisalat Co (Mobily) on Thursday said it paid SAR 126.9 million as an instalment to receive the 1,800 Megahertz (MHZ) spectrum.
The payment makes up 30% of the total amount due, which is SAR 422 million.
This investment will help the Saudi telecommunications provider to improve its customers’ experience and limit their expenses, according to a bourse statement.
The financial impact of the investment will appear in the company's results starting 1 January 2018.
The remaing instalments will be paid in equal amounts over a 10-year period, Mobily added.
In July, the Tadawul-listed company acquired 2x5 MHz block size in the 1,800 MHz band by participating in the Communications and Information Technology Commission’s auction (CITC).
Mobily’s stock inched up 0.06%, closing at SAR 17.32 on Thursday.
