Mobile Telecommunication Company Saudi Arabia (ZAIN KSA) Announces an update in regards to the signing of MoU with Etihad Etisalat Company (Mobily) to increase the participation in the communication towers, with the objective of achieving maximum efficiency and upgrading the communications and information technology system, with the support and supervision of the CITC
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of Mobile Telecommunication Company Saudi Arabia (ZAIN KSA) on Tadawul website on 05/07/2020 corresponding to 14/11/1441H regarding the signing of MoU with Etihad Etisalat Company (Mobily) on 02/07/2020 corresponding to 11/11/1441 H to form a joint committee from both companies, to prepare and offer a request for proposal (RFP) with the options of purchasing the telecommunications towers owned by the two companies, merging them into one company with other investors or operating them on their behalf. Provided that the offer of RFP must be prepared within thirty days from the date of signing this MoU.
ZAIN KSA announces that the formed joint committee completed preparing and circulating the request for proposal (RFP) with the options of purchasing the telecommunications towers owned by the two companies, merging them into one company with other investors or operating them on their behalf, and the RFP responses will be received and assessed in the coming period. Any material developments will be announced in due course. |
| Previous Announcement | The signing of MoU with Etihad Etisalat Company (Mobily) on 02/07/2020 corresponding to 11/11/1441 H to form a joint committee from both companies, to prepare and offer a request for proposal (RFP) with the options of purchasing the telecommunications towers owned by the two companies, merging them into one company with other investors or operating them on their behalf. Provided that the offer of RFP must be prepared within thirty days from the date of signing this MoU. |
| Date of Previous Announcement on Tadawul's Website | 2020-07-05 Corresponding to 1441-11-14 |
| Progress | N/A |
| Event's Expected Completion Date | N/A |
| Expenses Related to the Event, Whether They Changed or Not and Justification | N/A |
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