Reference to the Saudi Telecom Company (the company) announcement on Tadawul website dated 31/07/2016 stating that the company and Etihad Etisalat (Mobily) have signed a Memorandum of Understanding (MoU) on 31st July 2016 to jointly explore options for extracting value from their respective telecommunications tower portfolios throughout the Kingdom, with the objective of reducing their capital and operating expenditures. The company announces that the discussions with Etihad Etisalat (Mobily) are ongoing. As discussions of this nature can take time to produce results, the parties have agreed to extend the MoU past 31st October 2016. As previously disclosed, the MoU will be automatically extended for consecutive periods of thirty calendar days, unless otherwise agreed between the parties. It is worth noting that no significant costs have been incurred to date. Any substantial developments in this regard will be announced in due course.
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