Etihad Etisalat Mobily acknowledged that the intention of forming an alliance with the Saudi Mobile Telecommunications Company, Zain Saudi Arabia, the leading investment company, and IHS KSA Ltd. IHS to acquire the communication towers owned by both Mobily and Zain Saudi Arabia to merge and unify these towers under a registered commercial entity In the Kingdom of Saudi Arabia, Al-Abraaj Company does not comply with Mobily's strategic requirements and objectives to achieve operational and financial efficiency.
According to Arabiya Net, the company said in a statement that Etihad Etisalat Mobily will continue to evaluate other offers in order to achieve the best return for the company and its investors, raise the participation rate in telecom towers, achieve maximum efficiency, and upgrade the communications and information technology system with the support and supervision of the Communications and Information Technology Commission.
On May 25, Mobily announced that the company had signed a memorandum of understanding with the Saudi Mobile Telecommunications Company (Zain Saudi Arabia) on 11/11/1441 AH corresponding to 2-7-2020AD to form a joint committee between the two parties to prepare and present a bid request brochure for the purchase of mobile phone towers that owned by the parties, or merging into one company with other investors or operating on their behalf.
