STC

Arabian Internet and Communications Services Co., also known as Solutions by STC, signed Sunday numerous contracts with the Saudi Telecom Company to advance the creation of a modernized data center for smart city, NEOM. With a valuation estimated at around $53.7 million, the contracts will set the initial groundwork to establish the needed infrastructure for […]

Saudi Telecom Company (STC) and Swedish firm Ericsson announced on Wednesday plans to delve into potential sustainable initiatives to support the Saudi telco’s network infrastructure to highlight the Kingdom’s vision. “With this new MoU, we work yet again with Ericsson to push the ICT industry’s boundaries and focus on ensuring a sustainable, environmentally viable future,” […]

Saudi Telecoms Company (STC) raised on Wednesday $966 million from its Initial Public Offering (IPO) following completion of the institutional subscription of its subsidiary Arabian Internet and Communications Services Co. Last week, the Kingdom’s state-owned telco set a price for its IPO at the highest rank of an analytical price range for Solutions by STC, […]

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. […]

State-owned Saudi Telecom Company (STC) announced a $500 million partnership deal with venture capital fund eWTP Arabia Capital, and Alibaba Cloud to provide high-performance public cloud services in the Kingdom. Alibaba Cloud, which is the digital technology and intelligence backbone of Alibaba Group, considers KSA as a strategic market for its operations in the GCC […]

STC Etisalat

Telecom operators STC and Etisalat have respectively topped a ranking of the Saudi Arabian and Emirati brands, according to a newly released report by WPP, one of the world’s biggest advertising company. The report, which was done by WPP’s data management division Kantar, highlighted that the telecommunications sector contributed to 70 percent, $35 billion, of […]

STC is negotiating to reduce its offer to buy a 55% stake in Vodafone Egypt (1)

The Saudi Telecom Company is in discussion to reduce the offer to buy a 55% stake in Vodafone Egypt for $2.39 billion. STC’s approach for the non-binding offer was made for the first time in January 2020.  The memorandum of understanding initially signed on January 29, 2020, was extended for a period of 90 and […]