Saudi Telecom Company

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Recent Articles

• Saudi Telecom sets up content company30 October 2008

  Based in Dubai Media City, operations are scheduled to begin early next year

• Saudi Telecom profit drops 4%26 October 2008

  UPDATE 1: Company misses forecasts as Q3 net income drops to $803.7mn, attributed to expansion costs.

• Saudi Arabia launches campaign to identify mobile subscribers11 October 2008

  All Saudi mobile subscribers required to prove their identity in drive to cut down 'anonymous' mobiles

• Kuwait's VIVA raises $93.6mn in IPO26 September 2008

  Gulf state's third telecom operator's public offering was 2.4 times oversubscribed, sold 250mn shares.

• Saudi Telecom to slash workforce by 15%14 September 2008

  Telecom operator to axe 3,000 jobs in Saudi as pressure grows to improve profitability.

• Man Utd confirms Saudi Telecom deal18 August 2008

  Middle East's largest operator to have exclusive rights to use logo and imagery within kingdom.

• Saudi Telecom in landmark deal with Man Utd17 August 2008

  Middle East's largest operator agrees $19mn marketing deal with English football giant.

• Bahrain Internet service severely disrupted14 August 2008

  Cable fault on King Fahd Causeway slows Internet service and cuts access to some sites

• Saudi Telecom to launch Unified International Roaming service28 July 2008

  The new service, effective from August 1st, will link 30 telecom operators globally.

• Saudi Telecom to introduce cheaper roaming fees27 July 2008

  Subscribers of 30 foreign operators to benefit, fees to fall by up to 69%.

• Saudi Telecom seeks 25% stake in Omantel23 July 2008

  Largest Arab telecom firm to make its second major venture outside the kingdom.

• Kuwait approves third mobile operator22 July 2008

  50 percent of new company will be sold to the public

• Saudi Telecom Q2 profit surges to beat forecasts20 July 2008

  Gulf's second largest provider by market value reports $1bn income.

• Much-delayed Kuwaiti telco IPO to launch by June27 April 2008

  Gulf state's third mobile operator may be in business by October, official says.

• Saudi Telecom profit up on more subscribers21 April 2008

  Second largest Arab telecom sees Q1 net income rise 11.4% to $808mn.

• Zain Saudi Arabia to launch operations by June 22 March 2008

  Kingdom's third mobile operator will initially cover 53% of population with own nextwork.

• Markets continue slump ahead of Fed cut16 March 2008

  All Gulf states pegged to US dollar see markets drop on concerns US will slash rates.

• New Saudi fixed-line telecoms get final approval26 February 2008

  Consortiums led by Bahrain's Batelco, Hong Kong's PCCW and US-based Verizon.

• Saudi Telecom to borrow $2.6bn for Oger buy12 February 2008

  Telecom turns to local banks to finance purchase of 35% stake in Oger Telecom.

• Saudi Telecom inks $2.56bn Oger deal9 February 2008

  Operator signs final agreement for 35% stake as it expands its investments internationally.

• Saudi, UAE in new undersea cable deal6 February 2008

  14,000km telecoms network will connect India and western Europe via the Middle East.

• Oger eyes South Africa's Telkom23 January 2008

  Dubai-based telco to use proceeds of sale of stake to Saudi Telecom to fund purchase, CEO says

• Saudi Telecom returns to profit growth21 January 2008

  Largest Arab telecom sees Q4 earnings rise 9.6% to $813.3mn, but still misses analysts' forecasts.

• Saudi Telecom in $2.6bn Oger deal20 January 2008

  Biggest Arab telecom buys 35% stake, gaining access to markets from Turkey to South Africa.

• STC wins out in Kuwaiti telco race28 November 2007

  Saudi Telecom takes Kuwait's third mobile licence.