STC signs debt settlement deal with Etihad Atheeb

STC signs debt settlement deal with Etihad Atheeb
The agreement was reached following intensive talks between the two telecom firms over the past period. (File/AFP)
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Updated 06 February 2021

STC signs debt settlement deal with Etihad Atheeb

STC signs debt settlement deal with Etihad Atheeb
  • The telecom operator expects the agreement to reflect positively on Atheeb

Saudi Telecom Co. (stc) signed an agreement with Etihad Atheeb Telecommunications (GO) on settling the latter's due balances and debt, according to the company's statement.

The agreement was reached following intensive talks between the two telecom firms over the past period, which resulted in the balances and debt settlement in a manner that best serves the two sides.

The telecom operator expects the agreement to reflect positively on Atheeb and help it proceed with the upgrade and support of its operations, in addition to raising the competitive ability and enhancing the infrastructure of both sides, in line with customer aspirations and the Kingdom's status globally.

Furthermore, the agreement will positively impact the telecom sector as a whole, through helping it achieve its targets as being among the Kingdom's key vital and growing sectors. This is in addition to boosting the country's gross domestic economy, in line with indicators related to Vision 2030.