Announced
Financials
Sources
Tags
Telecommunications infrastructure
Friendly
Acquisition
Majority
Private
Saudi Arabia
telecommunications company
Single Bidder
Domestic
telecommunications towers
Private Equity
Pending
Synopsis
Public Investment Fund, the sovereign wealth fund of Saudi Arabia, offered to acquire a 51% stake in Telecommunications Towers Company, a provider of ICT infrastructure in KSA, from Saudi Telecom Company, the Saudi digital enabler of telecommunications services in the Kingdom of Saudi Arabia, for $3bn. If completed, the financial impact of the potential acquisition is forecast to be positive and material, stc said, adding that it will announce any material developments in due course.
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