Mobily wins approval for $400mn Bayanat buy

Saudi Arabia's Etihad Etisalat (Mobily) said on Tuesday it won regulatory approval to buy data provider Bayanat Al-Oula for 1.5 billion riyals ($400 million).

Mobily said in September it agreed to buy the firm.

The green light from the Communications and Information Technology Commission (CITC) is likely to increase competition in broadband services since Bayanat is licensed to deploy a WiMax wireless internet access network in the kingdom.

WiMax - seen as the big brother to the WiFi standard, which only works near a transmitter - allows anyone with a WiMax-enabled laptop or media device to download songs, movies and business presentations over distances of up to 50 kilometres.

Mobily also said its share in a 1 billion riyal, 12,000-kilometre national fiber optic backbone would rise to 66% from 33%.

The company, in which UAE-based Etisalat is the biggest shareholder, has made the development of broadband and data services a priority as competition heats up with the entry of third mobile phone operator Zain Saudi Arabia. (Reuters)

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM