JEDDAH: Saudi telecom operator Etihad Etisalat (Mobily) said it extended its agreement with Saudi Telecom Co. (STC) to jointly study options for their network of transmitter towers past an Oct. 31 deadline.
“As discussions of this nature can take time to produce results, the parties have agreed to extend the Memorandum of Understanding (MoU),” Mobily said in a bourse statement.
“As previously disclosed, the MoU will be automatically extended for consecutive periods of 30 calendar days, unless otherwise agreed between the parties,” it added, referring to a July 31 filing announcing the joint study.
Both Mobily and STC, as well as third operator Zain Saudi Arabia, have been considering whether to offload towers in recent months to cut costs, either via a sale to a private investor or through a merging of their networks.
“As discussions of this nature can take time to produce results, the parties have agreed to extend the Memorandum of Understanding (MoU),” Mobily said in a bourse statement.
“As previously disclosed, the MoU will be automatically extended for consecutive periods of 30 calendar days, unless otherwise agreed between the parties,” it added, referring to a July 31 filing announcing the joint study.
Both Mobily and STC, as well as third operator Zain Saudi Arabia, have been considering whether to offload towers in recent months to cut costs, either via a sale to a private investor or through a merging of their networks.
