Mobily [7020.SE] has scrapped plans to sell its mobile towers, according to people with knowledge of the matter. The company decided not to proceed with the tower sale, following Saudi Telecom Company’s (STC) [7010.SE] potential plan to sell its towers. Mobily’s motive is still not clear. The towers would have fetched Mobily cUSD2bn (SAR7.5bn). Leading bidders for Mobily’s towers included Digital Bridge Holdings, IHS Holding Ltd., Providence Equity Partners Inc., Al Rajhi Group and Zamil Group. (Bloomberg) Mobily: SAR27.50 as of 29 June, Rating: Neutral, FV: SAR30.39/share, MCap: USD5,647mn, EEC AB / 7020.SE
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