Saudi PIF Makes Move for Telecommunications Towers Co.
Posted on 10/24/2022
Saudi Arabia’s Public Investment Fund (PIF) made a non-binding offer to Saudi Telecommunication Company (STC) for 51% of Telecommunications Towers Co. (Tawal). STC is assessing the offer for Tawal and said the entire business has been valued at US$ 5.8 billion on a cash- and debt-free basis. Saudi Telecom is 64% owned by the PIF.…
