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
Vertex to Present New Data on ALYFTREK ® at the North American Cystic Fibrosis Conference9.10.2026 20:15:00 EEST | Press release
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced new interim data from the ALYFTREK® (vanzacaftor/tezacaftor/deutivacaftor) 2 to 5 years old open-label extension study, highlighting recovery of exocrine pancreatic function in some children in that age group, allowing those children to discontinue pancreatic enzyme replacement therapy (PERT). Pancreatic exocrine insufficiency in children with cystic fibrosis (CF) was previously believed to be irreversible. These data were presented at the North American Cystic Fibrosis Conference (NACFC). “The data presented at NACFC underscore the safety and efficacy of our CF medicines in the real world and in clinical trials in younger age groups. The data from the Phase 3 open-label study in 2 to 5 year olds evaluating exocrine pancreatic function represent a profound shift in how we understand the benefits of treating cystic fibrosis in its earliest stages,” said Carmen Bozic, M.D., Executive Vice President, Global Medicines Devel
Verdant Rock Receives A (low) Financial Strength Rating from Morningstar DBRS, Adding a Second International Investment-Grade Assessment9.10.2026 17:00:00 EEST | Press release
Verdant Rock Limited, a Bermuda Monetary Authority-regulated Class 3B insurance company, has received an A (low) Financial Strength Rating from Morningstar DBRS. The rating reflects Verdant Rock’s financial strength and its capacity to meet policyholder obligations as an investment-grade financial guarantor for Emerging Markets credit. Morningstar DBRS is a global credit rating agency with coverage across North America, Europe, Asia, and Latin America. Its assessment of Verdant Rock reflects the company’s strong projected earnings ability, robust risk profile, sound liquidity, and good capitalization. Morningstar DBRS also assigned an A (low) Issuer Rating to Verdant Rock. The rating follows Verdant Rock’s BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings, assigned on 12 June 2026. Verdant Rock now holds Financial Strength Ratings from both Fitch Ratings and Morningstar DBRS, providing counterparties with dual-agency confirmation of the company’s
Tecnotree Named a Visionary in the Inaugural 2026 Gartner® Magic Quadrant™ for CSP AI-Enabled Marketing and Sales Solutions9.10.2026 16:17:00 EEST | Press release
Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, today announced that Gartner has positioned it as a Visionary in the first-ever Magic Quadrant for AI-Enabled CSP Marketing and Sales Solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261009905430/en/ Tecnotree Named a Visionary in the Inaugural 2026 Gartner® Magic Quadrant™ for CSP AI-Enabled Marketing and Sales Solutions A new category for a new operating model. CSPs are fighting saturated markets, rising acquisition costs, and accelerating churn. They are responding with AI-driven automation across the full revenue cycle, from segmentation and campaigns to lead management, CPQ, and renewals, increasingly executed by autonomous agents. According to us, Gartner creation of this Magic Quadrant confirms the shift has moved from pilot to boardroom priority. According to Gartner, Visionaries "understands where the market
Positive New Data on Corcym’s Perceval Plus Sutureless Aortic Heart Valve Encompasses up to 7-Year Follow-up9.10.2026 16:15:00 EEST | Press release
Corcym, a global medical device company dedicated to cardiac surgery, today announced that positive mid-term data from a sub-analysis of its Perceval Plus sutureless aortic heart valve as part of its MANTRA clinical trial was featured in an oral presentation today at the annual meeting of the European Association for Cardio-Thoracic Surgery (EACTS). The study is the longest follow-up available for Perceval Plus and the FREE tissue treatment from an international multicenter study, and demonstrated excellent durability, safety and quality of life improvements. Perceval Plus is the only sutureless and collapsible aortic surgical heart valve. Its unique design performs in any surgical scenario and is optimal for endoscopy and robotics. The valve features the company’s FREE next generation tissue treatment addressing the two main causes of calcification, phospholipids and aldehydes. Its proprietary LANCELOT advanced manufacturing process includes zero-pressure shaping and laser cutting of
Ada earns AWS Travel and Hospitality Competency for resolving traveler issues at scale9.10.2026 16:00:00 EEST | Press release
Ada, the pioneer in Agentic Customer Experience, today announced it has achieved the Amazon Web Services (AWS) Travel and Hospitality Competency. The designation recognizes Ada as an AWS Partner with demonstrated technical proficiency and proven customer success helping travel and hospitality brands resolve customer issues at scale. Ada joins a select group of 58 AWS Partners holding the competency, and it reflects a shared commitment to helping travel brands deliver service that holds up on their busiest, most unpredictable days. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261009673638/en/ Ada earns AWS Travel and Hospitality Competency for resolving traveler issues at scale "Travel is where agentic customer service gets tested hardest. Demand spikes without warning, policies change by the hour, and customers are often stressed and far from home," said Mike Murchison, CEO and co-founder of Ada. "Our airline and hospitali
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