Thursday 31 July 2014

Mobily eyes top Saudi telco spot in $1bn plan

Riyadh, May 26, 2010

Etihad Etisalat (Mobily) is aiming for the top spot in Saudi Arabia's mobile voice market and a near 370-per cent rise in its broadband clients within five years to keep profit growing, its top executive said.

The growth targets form the centerpiece of a new five-year strategy by Mobily, which became in 2005 the second mobile phone operator to be licenced in the Arab world's biggest economy.

The firm plans to spend at least $1 billion within five years on the strategy, chief executive Khalid Al-Kaf told Reuters in an interview on Wednesday.

'This ($1 billion) is a very moderate estimate,' he said. He could not give a precise figure because of stock market disclosure regulations.-Reuters

Tags: Saudi Arabia | Telecom | Mobily | Etihad Etisalat | IT |

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