Saudi Telecom will exclude external assets
Alsugair said the group intends to “exclude foreign assets” that do not benefit shareholders
Chairman of Saudi Telecom Co. (STC) Abdulaziz Alsugair said Thursday the group intends to “exclude foreign assets” that do not benefit shareholders, adding that there will be no exceptions.
Alsugair, speaking on the sidelines of the World Economic Forum in the Swiss city of Davos, said STC is undergoing an internal sequence of assessments that will enable the company to develop on its path to gain more customers.
He told Al Arabiya's presenter Fatima Zahra Daoui that the external and internal expansions will be studied and the company will work on reducing costs in the mobile phone services company.
He also revealed the company’s plans to activate an expansive investment budget dedicated to the growing trends in the telecommunications market, which currently shows a higher demand for data and text messaging services versus voice calls.
- New global media platform WorldPost launches in Davos
- Rowhani: Syria engulfed in catastrophe
- Davos: Saudi’s CPC plans IPO before June
- Davos: Iran promises new model for oil contracts
- Davos: Interview with Egypt’s Finance Minister Ahmed Galal
- Egypt’s finance minister addresses economic woes in Davos
- Saudi Minister: Heavy government investment planned for 2014
- Saudi to revoke some foreign investment licenses