Riyadh – Mubasher: Saudi Mobile Telecommunications Co. (Zain KSA) is keeping an eye on the latest agreement signed between Saudi Telecom Company (STC) and Mobily, Hassan Kabbani, CEO of Zain told CNBC Arabia channel.
Kabbani added that if the agreement adversely affected the sector’s competitiveness, Zain would request the interference of the competent authorities.
“Currently we have no concerns to join the deal, although we have not yet been invited” Zain CEO said.
STC signed a memorandum of understanding (MOU) with Mobily on 31 July to jointly explore options for extracting value from their owned telecommunications towers.
Zain KSA posted a 63.68% increase in losses to SAR 329 million ($87.7 million) in the second quarter of 2016, compared to SAR 201 million ($53.6 million) in the same quarter last year.
Commenting on the Q2-16 financial results, Kabbani assured that the company is achieving good revenues and working on controlling the losses, which were mainly driven by the cost of the new biometric fingerprint identification regulations.
Zain KSA was able to raise its market share of subscribers to 19%.
