STC to provide Saudi Aramco’s communities with high-speed internet
Saudi Telecom Company (STC) [7010.SE] reportedly signed a deal with Saudi Aramco, whereby the operator will provide high-speed internet in the oil producer’s communities. Under the 15-year agreement, STC will provide modern telephony and internet-based TV (IPTV) services to 9,500 residential units in Dhahran, Ras Tanura, Abqaiq and Udhailiyah. The agreement to design and deploy fiber-to-the-home (FTTH) infrastructure and services is expected to bring internet speeds up to 300 Mbps per residential unit, 100 times the speed of the existing copper-based network. No details were mentioned regarding the value of the deal. (Argaam)
Saudi Telecom Company: SAR101.40 as of 13 Feb. 2019, Rating: Neutral, TP: SAR92.50/share, MCap: USD54,080mn, STC AB/7010.SE
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