Tawal, which is making its first foray into Europe through the acquisition, already owns more than 16,000 towers
The company plans to issue 1.5 bonus shares for every existing share, through capitalising retained earnings
The deal is subject to regulatory approval from Pakistani authorities
Saudi Telecom already spun off its internet services unit and listed it on the kingdom’s stock market last year
A search for a successor is underway
Saudi Telecom is considering selling as much as 30 per cent of the unit
STC had said that the offer gives the Egyptian business an enterprise value of $4.35bn
In this year’s Forbes list of the Middle East’s Top 100 Companies 2020, Saudi Arabia led the pack with 33 entries
The Gulf’s largest companies by market capitalisation, revenues and countries, as researched by Markaz.