Saudi Telecom Seriously Considering Selling Towers

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Saudi Telecom Co. is considering a sale of its mobile transmitter towers, its CEO said.

Margins for traditional telecom services are not what they used to be and Saudi Telecom is looking for ways to diversify revenue and boost efficiency, Chief Executive Officer Khaled Bin Hussain Biyari said in an interview on Bloomberg TV. One way to do that is to create a company that would sell the towers.

“We are seriously considering it, we are doing our internal assessment in terms of what value it will bring us,” he said. “It’s not about the money. It’s about creating efficiency in operation.”

The economic slowdown amid a slump in oil prices “is a fact” though the company in the oil-rich kingdom is still growing, Biyari claimed.

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