Mobily has successfully acquired 2x5 MHz block in the 1800 MHz band through its participation in the auction conducted by CITC from 23-05-2017, the results of which were announced by CITC on 6-6-2017.
The value of the acquired spectrum is SAR 422 Million , 30% of which will be paid within 90 days after the conclusion of the auction. The remaining 70% will be paid in equal annual instalments over a 10 years period.
The acquisition will be funded from the company's cash flows and available facilities.
The additional spectrum will be available in the beginning of 2018, and will allow Mobily to increase its network capacity, improve its customers experience and contain its future capital expenditure.
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