Tawwal plans to buy Saudi Mobily towers

Tawal Saudi Arabia is in initial discussions with Etihad Etisalat "Mobily" regarding their potential acquisition of telecom towers owned by Mobily, according to a statement on Tadawul. No binding agreement has been signed yet; only a non-binding technical confidentiality agreement for the discussions. Meanwhile, Mobily's financial results showed an 11.6% increase in net profit last year, reaching 3.466 billion riyals, despite a 1% decline in revenue in the second quarter to 5.08 billion riyals, even as profit margins improved.

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