Zain Saudi-Mobily joint committee finalizes RFP preparation

Mobile Telecommunication Company Saudi Arabia (Zain Saudi) and Etihad Etisalat Co. (Mobily) said in separate bourse statements that the joint committee finalized preparing and offering the request for proposal (RFP) with the options of purchasing the telecommunications towers owned by both companies, merging them into one company with other investors or operating them on their behalf.

The RFP responses will be received and assessed going forward.

Any material developments will be announced in due course, both companies added.

On July 2, both telecom operators signed a non-binding memorandum of understanding (MoU) to form a joint committee, to prepare and offer an RFP with the options of purchasing the telecommunications towers owned by the two companies, merging them into one company with other investors or operating them on their behalf.