Saudi Telecom Co. (STC) has approached potential bidders for its phone towers as the company considers the option of selling its infrastructure assets, Bloomberg reported, citing people familiar with the matter.The company has also addressed to competitors
Mobily and Zain Saudi Arabia to merge the three firms towers into a single one.STC is yet to take a final call on the route it plans to take, the people said, and no agreements have been reached with any of the parties. There was no comment from the three operators.
Telecom operators in the kingdom have been looking to sell phone towers in order to cut infrastructure spending.STC CEO Khaled Bin Hussain Biyari said in May that he was “seriously considering” selling the assets to make the company more efficient.
Mobily was earlier said to be reviewing offers for its Saudi tower portfolio.
Zain Saudi has approximately 7,500 towers in the country and decided to sell them or work with other telecom operators to manage the assets, CEO Hassan Kabbani said earlier in this year. STC owns more than 10,000 phone towers in the country, one person said.