Etihad Etisalat (Mobily), the second largest mobile operator in Saudi Arabia has signed an agreement worth $640 million to further develop its mobile network with Nokia, Huawei, Ericsson.
Mobily said that the agreement will have a positive impact on the company’s financial statements, as will contribute in enhancing the company’s future capital efficiency and network-related operational expenses.
In January, Mobily signed a $2.11B refinancing facility with a group of banks to refinance a significant part of Mobily's debt. More recently, the company in partnership with Mobily completed a License Assisted Access (LAA) technology trial on its live network. The solution will be initially deployed in the densely populated capital city Riyadh and other major cities in the Kingdom.