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Saudi Telecom will exclude external assets

Alsugair said the group intends to “exclude foreign assets” that do not benefit shareholders

Published: Updated:

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.