Saudi firm wins mobile network license in Bahrain

THIRD OPERATOR: STC will be the third mobile phone service operator in Bahrain. (Getty Images)

Saudi Telecommunications Company (STC) has been awarded the third license to operate mobile phone services in Bahrain, it was reported on Tuesday.

STC, that already boasts 90 million customers, was the only company awarded the bid for BD86.7bn ($230bn) by the Telecommunications Regulatory Authority (TRA) after almost a year long bidding process.

The license was officially handed over by the TRA chairman Mohammed Ahmed Al Amer to STC chairman Muhammad Al Jasser at a presentation ceremony held at the Ritz-Carlton Hotel, according to Saudi daily Saudi Gazette.

As part of the deal STC will construct a robust high capacity advanced mobile network that will focus on quality service and speed to market.

The company will also donate one percent of its revenue under a corporate social responsibility clause that will be used to support some of Bahrain’s social initiatives including developing e-health and e-learning schemes and building more sports facilities.

In addition STC announced the establishment of a $300m venture capital fund in Bahrain that will focus on the development of ICT in the Gulf state.

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