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
More IT & Telecommunications Stories
- Etisalat wins performance award at CommsMEA
- Mideast IT spending to top $32bn in 2014
- MiX Telematics unveils fleet management solutions
- Etisalat unveils 100 MB data for prepaid users
- Du backs UAE entrepreneurs unit
- Aruba names new EMEA vice president
- Survey to measure UAE mobile radiation levels
- Zain Bahrain on track to launch new network
- Microsoft assures foreign customers on spying
- Batelco wins ‘telecom deal’ award