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Saudi Arabia’s Zain closes $805m tower divestiture

Mobile telecommunication company Zain Saudi Arabia (Zain KSA) (TADAWUL: 7030) has completed a deal to sell a stake in its tower infrastructure for more than SAR3 billion (US$805 million). As part of the transaction, Zain KSA has sold at least 3,000 towers (out of the total of 8,069 towers) to Golden Lattice Investment Company (GLIC), which is owned by the Kingdom’s sovere...

January 12

Saudi Arabia launches Tonomus, Neom’s tech arm with nearly $1bn in digital infrastructure projects

Saudi Arabia-based NEOM Tech & Digital Company, the first company to be established as a full-fledged subsidiary of NEOM, has launched as 'Tonomus’. Tonomus has been conceptualised to build the cognitive foundation and adopting solutions integral to the development of NEOM and its flagship initiatives, including THE LINE, OXAGON and TROJENA. Tonomus is launching wi...

September 27

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