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31-May-2016

STC to seriously consider tower sale and expand enterprise business

Saudi Telecom Company’s (STC) [7010.SE] CEO, Khaled Biyari has conducted an interview with Bloomberg. Below are the main highlights: STC seriously considering a tower sale. An internal assessment is currently being conducted and a decision should be made soon The company will be more focused on enhancing efficiency rather than expanding coverage; hence, the tower sale initiative The focus on the enterprise segment will continue, targeting SMEs and government entities. The company is aiming to diversify its offering by partnering with different ICT companies and investing in the cloud offering Management targets 20% Y-o-Y growth in the enterprise segment over the coming years (Bloomberg)   Saudi Telecom Company: SAR62.59 as of 30 May 2016, Rating: Buy, FV: SAR79.00 per share, MCap: USD33,381 million, STC AB / 7010.SE  

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