{"id":801066,"date":"2024-04-22T10:08:29","date_gmt":"2024-04-22T10:08:29","guid":{"rendered":"https:\/\/telecomlive.in\/web\/2024\/04\/22\/saudis-pif-and-stc-agree-deal-to-create-regions-largest-telecom-tower-company\/"},"modified":"2024-04-22T10:08:29","modified_gmt":"2024-04-22T10:08:29","slug":"saudis-pif-and-stc-agree-deal-to-create-regions-largest-telecom-tower-company","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/04\/22\/saudis-pif-and-stc-agree-deal-to-create-regions-largest-telecom-tower-company\/","title":{"rendered":"Saudi&#8217;s PIF and STC agree deal to create region&#8217;s largest telecom tower company"},"content":{"rendered":"<p>Saudi Arabia&#8217;s sovereign wealth fund PIF has agreed to acquire a 51% stake in Telecommunication Towers Company Limited (TAWAL) from STC Group , paving the way for the creation of the region&#8217;s largest telecom tower company, PIF and STC said on Monday.<\/p>\n<p>Under the agreement, PIF and STC will combine TAWAL and Golden Lattice Investment Company (GLIC) to set up a newly-formed company with around 30,000 mobile tower sites and estimated annual revenues of around $1.3 billion, they said in a joint statement.<\/p>\n<p>The combined new entity will be owned 54% by PIF and 43.1% by STC, while GLIC minority shareholders will own the remaining share capital. The deals are expected to be completed in the second half of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia&#8217;s sovereign wealth fund PIF has agreed to acquire a 51% stake in Telecommunication Towers Company Limited (TAWAL) from STC Group , paving the way for the creation of the region&#8217;s largest telecom tower company, PIF and STC said on Monday. Under the agreement, PIF and STC will combine TAWAL and Golden Lattice Investment Company (GLIC) to set up a newly-formed company with around 30,000 mobile tower sites and estimated annual revenues of around $1.3 billion, they said in a joint statement. The combined new entity will be owned 54% by PIF and 43.1% by STC, while GLIC minority [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-801066","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=801066"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801066\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=801066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=801066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=801066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}