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Saudi stc enters European market via ICT infrastructure unit TAWAL

Saudi stc enters European market via ICT infrastructure unit TAWAL
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Riyadh – Mubasher: TAWAL, a fully-owned information and communications technology (ICT) infrastructure subsidiary of Saudi Telecom Company (stc), has begun operations in Europe, according to a press release.

This aligns with the telecom group’s expansion and growth strategy after obtaining all the necessary regulatory approvals. It marks the second step of TAWAL’s plan following the launch of TAWAL Pakistan in 2022.

The transaction also followed the completion of TAWAL’s EUR 1.22 billion acquisition deal with United Group which was announced in April 2023.

The unit acquired the United Group’s infrastructure assets across Bulgaria, Croatia, and Slovenia. Meanwhile, TAWAL owns and operates more than 4,800 sites across the three countries.

Meanwhile, the total towers portfolio of TAWAL currently surpasses 21,000 towers across five countries. Across these markets, the Saudi unit aims to ensure a reliable, effective, and efficient ICT infrastructure network for all mobile network operators (MNOs).

TAWAL aims to boost its portfolio through significant investments while leveraging its expertise in managing critical and robust infrastructure across Saudi Arabia.

It also plans to foster the European markets by accelerating the deployment of ICT infrastructure in those markets.

Mohammed Alhakbani, CEO of TAWAL, said: “This achievement constitutes an important turning point for TAWAL to expand its footprints to other important markets.”

“Leveraging our resources and best practices, we aim to bring even more value to the European markets by enabling our customers to operate more effectively and efficiently,” Alhakbani indicated.

During the first half (H1) of 2023, stc generated revenues amounting to SAR 36.50 billion, which were the highest semi-annual revenues in the company’s history.