stc Group makes a move into Europe through its infrastructure arm “TAWAL”
20.4.2023 18:09:00 EEST | Business Wire | Press release
stc Group, an engine of digital transformation in the MENA region, announces today that its ICT infrastructure subsidiary, TAWAL, has signed an agreement to acquire United Group’s telecommunications tower assets.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230420005678/en/
stc Group Logo (AETOSWire)
The agreement, valued at EUR 1.220 bn supports stc Group’s ambitious strategy to expand its international footprint in key markets with significant growth potential.
Marking TAWAL’s first step in Europe, this move represents a major milestone in its international expansion journey and stc Group’s growth ambitions which have been active growing in the ICT adjacencies including recent investments in ICT, IoT, Cloud, Cybersecurity, Fintech and digital entertainment through its subsidiaries.
Following completion of the acquisition, TAWAL will own and operate more than 4,800 sites across Bulgaria, Croatia, and Slovenia (all European Union member states, two of which are already members of the Eurozone), providing the full range of passive infrastructure services ranging from ground-based towers, rooftops small cells to in-building-solutions. As part of the 20-year master services agreement with United Group, TAWAL will deploy over 2,000 additional sharable sites, while co-location relationships with other mobile network operators will be maintained and expanded, enabling stc Group to drive digital transformation through providing world-class connectivity.
Olayan Alwetaid, Chief Executive Officer, stc Group, said: “Our agreement with United Group represents an exciting new chapter for TAWAL and the wider stc Group. The agreement is a significant milestone in our ambitious growth strategy and the expansion of our international footprint. 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.”
Mohammed Alhakbani, Chief Executive Officer, TAWAL, said: “We are delighted to partner with United Group in our first investment in the European market. The partnership supports our goal to continue to provide innovative and efficient ICT infrastructure solutions to our partners and deliver the quality of services we are renowned for.”
The transaction is subject to regulatory approval from the relevant authorities in Bulgaria and Slovenia. Upon completion, TAWAL’s operations in the European market will be rebranded as “TAWAL Europe” and will serve as TAWAL’s platform for any future expansion in Europe.
TAWAL currently owns a portfolio of over 16,000 telecom towers. The company is actively supporting digital transformation plans in Saudi Arabia, expanding its reach across new cities and rural areas in the Kingdom and actively rolling out smart-city-ready technologies such as camouflage telecom towers, smart poles capable of hosting 5G and IoT applications, in-building solutions, and small cells.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005678/en/
Contact information
Tarek Chahine, +966112152211
tchahine@webershandwick.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hitachi Joins Anthropic’s Critical Infrastructure Defense Program9.10.2026 03:32:00 EEST | Press release
Hitachi, Ltd. (TSE:6501, "Hitachi"), today announced that it has joined Anthropic, PBC’s (“Anthropic”) “Critical Infrastructure Defense Program,” launched on October 8, 2026, as a founding partner. The program is aimed at strengthening cyber defense for critical infrastructure, including control systems supporting power, water, manufacturing, and transportation services. Infrastructure systems that underpin society and the economy cannot tolerate prolonged downtime, making it difficult to implement certain security measures, such as system shutdowns for patch deployment. At the same time, advances in AI are significantly shortening the time between vulnerability disclosure and exploitation, creating an urgent need to redesign systems based on the assumption that cyberattacks will occur. The program seeks to strengthen cybersecurity through rapid vulnerability detection and remediation by integrating Anthropic’s advanced AI models, Claude, into the products and services of trusted syste
Lapmaster Wolters and Precision Surfacing Solutions Secures Strategic Minority Investment from The Cynosure Group and Fernweh Group to Accelerate Growth8.10.2026 23:49:00 EEST | Press release
Lapmaster Wolters and Precision Surfacing Solutions (“Lapmaster Wolters”), a leading global supplier of high-precision machine systems and consumables to the semiconductor, advanced materials, precision optics, and advanced packaging industries, today announced the completion of a minority equity investment by affiliates of The Cynosure Group (“Cynosure”) and Fernweh Group (“Fernweh”). The investment strengthens the balance sheet and adds long-term, engaged partners to support the company’s next phase of growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008141876/en/ Positioned for growth Demand for ultra-high-precision surface finishing continues to grow as customers in semiconductors, advanced materials, and precision optics push toward tighter tolerances and higher throughput. These tailwinds are further reinforced by sustained investment in semiconductor and advanced-packaging capacity, the expansion of AI and hi
Dubai Launches Global Create AI Agents Championship with Prize Pool Exceeding AED 2.5 Million8.10.2026 20:05:00 EEST | Press release
Dubai has launched the Create AI Agents Championship, a global competition inviting innovators to develop practical and scalable AI-agent solutions that address real-world challenges, with a total prize pool exceeding AED 2.5 million. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008883373/en/ Dubai has launched the Create AI Agents Championship as part of its efforts to accelerate the adoption and development of Agentic AI (Photo: AETOSWire) The launch of the championship was announced by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, who encouraged innovators from around the world to participate. Led by Dubai Chamber of Digital Economy, the championship aims to accelerate the adoption of Agentic AI and support the development of innovative AI-agent solutions with strong potential for
Seiden Law LLP issues statement: Prosecuted by Press Conference: Declared Guilty Without a Charge, Yim Leak Family Asks UN Human Rights Experts to Hold Thailand to Its Own Treaty Commitments8.10.2026 19:26:00 EEST | Press release
Seiden Law LLP, chief global counsel to Cambodian businessman Yim Leak, announced today that Jared Genser, international counsel to Mr. Yim and his wife, has asked two UN Special Rapporteurs to send an urgent appeal to the Thai government. The request is made on behalf of the couple and their seven-year-old son. It says Thailand violated its international human rights commitments by announcing the family’s guilt before any court had tried them, and by freezing their assets, including their minor son’s savings, without a hearing. Six Official Statements in Nine Months. No Charge Filed in Any Court. Between December 2025 and September 2026, Thai officials described Mr. Yim as the center of a criminal network on six occasions: at two press conferences chaired by the head of the Thai government, in the House of Representatives, and in three government press releases. The head of the Thai government said the network had been “found to have committed” offenses. Asked about the suspects’ lawy
Sam Altman-Backed Meanwhile Raises $37.5M as Families Across Asia, Europe and the Middle East Turn to Bitcoin Life Insurance8.10.2026 19:12:00 EEST | Press release
Meanwhile, the first life insurer licensed to operate entirely in Bitcoin, today announced $37.5 million in new funding from its existing investors. Bain Capital Crypto led the round, alongside Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital. Meanwhile, whose backers also include Sam Altman, has now raised more than $180 million. The round follows a surge in international demand for Meanwhile’s Bitcoin life insurance policies, particularly in Asia, Europe and the Middle East amid broader macro instability. In early 2026, Meanwhile launched BTC Life 1-Pay, a single-premium whole life policy built for high-net-worth clients outside the United States. It is the company's second product line after BTC 10-Pay, which is purposely designed for US taxpayers. As the company eyes further international growth, Meanwhile has signed 15 brokers serving wealthy families since launch, including in the insurance hubs of Singapore
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom