stc Group’s TAWAL expands its footprint to Europe with United Group tower purchases
TAWAL, the information and communication technology subsidiary of stc Group, has expanded its footprint to Europe by signing an agreement to acquire United Group’s telecommunication tower assets for $1.34 billion.
Upon completion of the acquisition, TAWAL will own and operate more than 4,800 sites of United Group across Bulgaria, Croatia, and Slovenia.
The firm will be providing infrastructure services ranging from ground-based towers, rooftop cells, and in-building-solutions as a part of the agreement.
As a part of the 20-year master services agreement with United Group, TAWAL will also deploy over 2,000 additional sharable sites, while colocation relationships with other mobile network operators will be maintained and expanded.
“Our agreement with United Group represents an exciting new chapter for TAWAL and the wider stc Group. The agreement is a significant milestone in our ambitious growth strategy and the expansion of our international footprint,“said Olayan Alwetaid, CEO of stc Group.
He added: “We are already leading the transformation of Saudi Arabia’s digital capabilities and this transaction reinforces our commitment to investing in best-in-class technology and infrastructure to lead the way in enabling the world to connect.”
The press release further noted that the transaction between TAWAL and United Group is subject to regulatory approval from relevant authorities in Bulgaria and Slovenia.
Upon completion, TAWAL’s operations in the European market will be rebranded as TAWAL Europe and will serve as TAWAL’s platform for any future expansion in the continent.
Mohammed Alhakbani, CEO of TAWAL said: “The partnership supports our goal to continue to provide innovative and efficient ICT infrastructure solutions to our partners and deliver the quality of services we are renowned for.”
The firm will be providing infrastructure services ranging from ground-based towers, rooftop cells, and in-building-solutions as a part of the agreement.
As a part of the 20-year master services agreement with United Group, TAWAL will also deploy over 2,000 additional sharable sites, while colocation relationships with other mobile network operators will be maintained and expanded.
“Our agreement with United Group represents an exciting new chapter for TAWAL and the wider stc Group. The agreement is a significant milestone in our ambitious growth strategy and the expansion of our international footprint,“said Olayan Alwetaid, CEO of stc Group.
He added: “We are already leading the transformation of Saudi Arabia’s digital capabilities and this transaction reinforces our commitment to investing in best-in-class technology and infrastructure to lead the way in enabling the world to connect.”
The press release further noted that the transaction between TAWAL and United Group is subject to regulatory approval from relevant authorities in Bulgaria and Slovenia.
Upon completion, TAWAL’s operations in the European market will be rebranded as TAWAL Europe and will serve as TAWAL’s platform for any future expansion in the continent.
Mohammed Alhakbani, CEO of TAWAL said: “The partnership supports our goal to continue to provide innovative and efficient ICT infrastructure solutions to our partners and deliver the quality of services we are renowned for.”
