Saudi’s STC Group Makes a Move Into Europe

Saudi’s STC Group Makes a Move Into Europe

stc Group announced that its ICT infrastructure subsidiary, TAWAL, has signed an agreement to acquire United Group’s telecommunications tower assets.

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

Olayan Alwetaid, Chief Executive Officer, stc Group, said:

“Our agreement with United Group represents an exciting new chapter for TAWAL and