Saudi Telecom Company (the Company) announces today at 2/5/1438 H corresponding to 30/1/2017 AD, the signing of an agreement with Etihad Atheeb Telecommunication Company (EATC) to purchase a number of Etihad Atheeb Telecommunication Company's towers, for an amount totaling SAR 230 million to enhance the Company's assets. The agreement will come into force upon EATC obtaining any necessary regulatory approvals.
The Company will finance such transaction from its internal resources and it would not result in any material impact on the Company's financial results nor any other financial obligations on the Company, and there are no related parties in this agreement.
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