KSA’s sovereign fund to acquire 60% of Zain towers

Saudi Arabia’s sovereign wealth fund proposed a non-binding offer to acquire a 60 percent stake in Kuwaiti-backed Zain’s KSA towers with various investors offering to buy another 20 percent, leaving the telco’s assets with an $807 million valuation, according to Zain KSA. The Public Investment Fund (PIF) offered a whopping $484 million for 60 percent […]

STC’s subsidiary IPO might reach $960 million

Arabian Internet and Communications Services Co. revealed plans of auctioning 24 million of its shares, trusting this move will raise $960 million in its initial public offering (IPO). The company, which is a subsidiary of Saudi Telekom Company (STC), will look to auction off the shares with prices ranging between $36.26 and $40.26 per share. […]

KSA’s CITC unveils free local roaming service

Saudi Arabia’s Communications and Information Technology Commission (CITC) launched on Sunday “The Local Roaming” initiative with the Kingdom’s leading telco firms to maximize services within all regions, specifically in remote villages and desert areas. Zain’s statement revealed that the primal phase of The National Mobile Inter-Network Roaming initiative will be launched in the Asir area […]