DUBAI: Plans to unify the telecom towers of Saudi operators Zain and Mobily have been approved by the Kingdom’s communications authority.
The Communications and Information Technology Commission gave the green light to the deal, which involves forming a consortium to buy the towers owned by the pair, and merge them into one.
The consortium consists of Zain KSA, Mobily, and Raidah Investment Company, according to a Tadawul filing.
The two operators signed an initial agreement in July last year, outlining the tower merger, saying it was “to achieve maximum efficiency while improving the communication and information technology system.”
Infrastructure sharing in the telecom industry is not unusual, and is carried out mainly to improve coverage and reduce expenditure.
Zain KSA profits drop 46%Mobily exceeds expectations with $208m net profit for 2020