Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) revealed that no agreement was reached from a consortium to acquire the telecom towers owned by Etihad Etisalat Company (Mobily) and Zain KSA.
The consortium will be dissolved, including Zain KSA, Mobily as well as Raidah Investment Company (AlRaidah) and IHS KSA, according to a bourse filing on Tuesday.
Zain KSA noted that it will continue to explore the best strategic options to achieve the best interest for the company and its shareholders.
Last March, Zain KSA announced that the Communications and Information Technology Commission’s (CITC) board approved in principal the submitted request from Zain to form the consortium, which aimed to acquire the telecom towers in addition to merging and unifying them under a commercial entity registered in Saudi Arabia as Towers Company.
