Introduction

With reference to the announcement of Mobile Telecommunication Company Saudi Arabia (ZAIN KSA) on Tadawul website on 05/07/2020 corresponding to 14/11/1441H regarding the signing of MoU with Etihad Etisalat Company (Mobily) on 02/07/2020 corresponding to 11/11/1441 H to form a joint committee from both companies, to prepare and offer a request for proposal (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.

Mobile Telecommunication Company Saudi Arabia (ZAIN KSA) announces receiving a letter from the Communications and Information Technology Commission (CITC) No. 3882/1442 / H.T., dated 10/08/1442H, 23/03/2021, which included the approval in principle of CITC’s Board on the application submitted to CITC from Mobile Telecommunication Company Saudi Arabia (ZAIN KSA), Etihad Etisalat Company (Mobily), and Raidah Investment Company ( AlRaidah) and IHS KSA Ltd. (IHS) to form a consortium to acquire the telecom towers owned by Mobily and Zain KSA, and to merge and unify these towers under a commercial entity registered in the Kingdom of Saudi Arabia, "Towers Company", for the purpose of obtaining licensing (providing infrastructure wholesale services - category (A) towers and masts), provided that Mobily, Zain KSA and AlRaidah collectively will own the majority of the shares of the company to be established, "Towers Company ", while IHS maintains a minority of the shares, and the new entity must fulfill the regulatory requirements related to the licensing and acquisition of the towers of Mobily and Zain KSA in preparation for obtaining the final approval from CITC.

Previous Announcement

The signing of MoU with Etihad Etisalat Company (Mobily) on 02/07/2020 corresponding to 11/11/1441 H to form a joint committee from both companies, to prepare and offer a request for proposal (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. Provided that the offer of RFP must be prepared within thirty days from the date of signing this MoU.

Date of Previous Announcement on Tadawul's Website

2020-07-28 Corresponding to 1441-12-07

Percentage of fulfilled achievement

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Event's Expected Completion Date

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The costs associated with the event, and if they have changed or not with indication of the reasons.

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