New entity from TAWAL-GLIC merger may be offered to public: PIF

Logo of Public Investment Fund (PIF)

Raid Ismail, Head of Direct Investments for the Middle East and North Africa, the Public Investment Fund (PIF), said the new entity arising from the merger of TAWAL and Golden Lattice Investment Co. (GLIC) may be offered to the public in the Saudi market.
 

Speaking to Al-Arabiya, Ismail said the acquisition of telecom towers is an important step to support the telecommunications sector.
 

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stc Group signedva sale and purchase agreement (SPA) with the PIF to sell 51% of Telecommunication Towers Company Limited (TAWAL) for cash, Argaam earlier reported.

 

TAWAL and GLIC will be merged to form the region’s largest telecom tower company to best serve consumers.

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