Saudi’s Mobily mulls telecom towers sale

DUBAI, May 13 (Reuters) - Saudi Arabian telecommunications operator Etihad Etisalat (Mobily) said on Wednesday it was studying the possibility of selling its telecommunications towers but hasn’t reached any agreement yet. The Wall Street Journal reported on Tuesday, citing unnamed sources, that Mobily planned to sell its telecommunications towers portfolio for up to $2 billion (Dh7.3 billion). Earlier on Wednesday, the Capital Market Authority said it had suspended trade in Mobily shares for two hours to give the company time to clarify information related to one of its businesses. The Capital Market Authority did not provide any more information in its statement. Mobily has not yet started trading for the day.