Dubai: Tawal, the ICT infrastructure subsidiary of stc Group based in Riyadh, has agreed to purchase United Group’s telecommunications tower assets in a deal valued at 1.22 billion euros. The acquisition aligns with stc Group’s strategy to expand its international presence in key markets that have significant growth potential, the company said in a statement.
Tawal will own and manage more than 4,800 sites throughout Bulgaria, Croatia, and Slovenia, offering various passive infrastructure services such as ground-based towers, rooftops, small cells, and in-building solutions.
"The agreement is a significant milestone in our ambitious growth strategy and the expansion of our international footprint," said Olayan Alwetaid, CEO, stc Group. "We are already leading the transformation of Saudi Arabia’s digital capabilities and this transaction reinforces our commitment to investing in best-in-class technology and infrastructure to lead the way in enabling the world to connect."
"This acquisition marks Tawal’s first step into the European market and reinforces stc Group’s commitment to investing in cutting-edge technology and infrastructure to lead the world in digital transformation," it said in a statement.
Tawal’s operations in Europe will be rebranded as “Tawal Europe,” and this deal represents a significant milestone in stc Group’s growth plans. Tawal is already supporting Saudi Arabia’s digital transformation plans and is actively rolling out smart-city-ready technologies such as camouflage telecom towers, smart poles, in-building solutions, and small cells.
