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02-Mar-2016

Mobily tower sale approaching with high interest from Digital Bridge

Digital Bridge, a company specialised in communication infrastructure investments, co-owned by both KSA’s Aramco and private equity firm Abraaj, is one of the lead bidders in Mobily’s [7020.SE] wireless tower network portfolio. According to unnamed sources, The sale could fetch as much as USD2.0 billion (SAR7.5 billion) for Mobily. A final agreement is yet to be reached as Mobily is still assessing different options for the tower sale with IHS Group Holding, Providence Equity Partners, Al Rajhi Group and Al Zamil Group all chosen to bid for the towers. (Bloomberg)   Mobily: SAR24.62 as of 1 March 2016, Rating: Neutral, FV: SAR30.39 per share, MCap: USD5,055 million, EEC AB / 7020.SE  

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