The Saudi Communications and Information Technology Commission (CITC) has set March 21, 2004 as the final day to apply for the Kingdom’s second mobile license. The tender is for a 25-year private license to install and operate a GSM network across the country.
According to CITC regulations, each applying consortia must comprise at least five Saudi companies and one mobile operator, reported Arab News. The selected grouping must commit to forming a Saudi joint stock company and the founding shareholders will undergo a two-year lock-in period. Some 20 percent of the company’s share will be made available for public subscription.
Candidates can also apply for an associated 3G license until March 28, 2004. The winning bidders are expected to be announced by the year’s end.
Saudi GSM revenues are expected to reach $ 7.9 billion in 2007, up from $ 3.4 billion in 2002, the Arab Advisors Group . The Kingdom has one of the largest mobile markets in the Middle East with more than seven million subscribers. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
