Zain Board declines Batelco offer for Zain Saudi stake (Kuwait)
Kuwait’s biggest phone operator, Zain has reportedly turned down an offer from Bahrain Telecommunications Co. to acquire its 25% stake in Zain Saudi Arabia.
As per sources, Batelco’s offer was below the book value of the stake. Batelco, Bahrain’s largest phone company stated on Feb. 9 that it submitted to an offer to acquire Zain Group’s stake in Zain Saudi. Zain’s board met today to decide on the offer. The meeting followed an announcement by Kingdom Holding Co. that it has not reached an agreement with Zain to buy its stake in Zain Saudi. Kingdom Holding, controlled by Saudi billionaire, Prince Alwaleed bin Talal, made an offer on Jan. 31.
Zain Saudi shares today fell by 4.3% in Riyadh to US$2.06, valuing the company at US$2.9 billion. The stock has declined 22% in the past year.
Zain’s board decision may frustrate a bid by Emirates Telecommunications Corp. to buy a 46% controlling stake in Zain. Etisalat is in talks with Zain shareholders to buy a majority stake in the Kuwaiti company. It has stated that Zain needs to sell its stake in the Saudi unit in a timely fashion for the deal to proceed.
STC launches two unique services taking saudi homes into the modern era
At a press event held at the Four Seasons Hotel in Riyadh, STC launched its multimedia services and Fiber to the Home service (FTTH) in the Kingdom and at the same time launched new sports packages using Invision, the interactive television service from STC.
STC also launched VERVE, the commercial name for its FTTH service, and introduced two new internet speeds of 40 and 100 mb for the first time in the Kingdom. The event was hosted by Eng Saud Al Daweesh, STC Group CEO, and attended by key representatives from various media.
The press conference commenced with a visual presentation of the newly launched services and a detailed explanation including features, benefits, and method of subscription. The presentation also highlighted both Verve and Invision services, both of which will contribute to making a complete transformation in people’s homes by providing real internet with very high speeds, allowing all members of the family to enjoy applications such as interactive online games, video conferencing, e-learning, medical services and shopping as well as a wide array of other key benefits.
Eng. Al Daweesh highlighted the Company’s great efforts in availing high speed internet services to its customers, truly reflecting STC’s commitment to offering real and integrated internet services in the Kingdom. He went on to state that in 2010 STC underwent a quantum leap in both quality and expansion of broadband services in the Kingdom, being the first in the Middle East and North Africa to launch the 100 mb package using the FTTH service. This service links customers’ homes with the modern and highly advanced FTTH network at very high speeds and at the same time offers high quality and efficient internet services which are the best in the world.
The CEO of STC also said that the Company has been highly successful in implementing a series of plans to develop broadband services bringing them within reach if all customers in the Kingdom at very affordable prices.
Eng Al Daweesh explained that VERVE is the first of its kind in the Kingdom and will revolutionize broadband services, opening up new opportunities for customers using the internet on a wider scale including all broadband applications. These internet services are the best in terms of quality and efficiency and enable customers to experience real and safe internet functions including browsing, data transfer and uploading using current and future applications at very high speed, making this new technology the customers’ first choice in the future.
He went on to state that launching VERVE is in line with the Company’s keen interest to provide modern and integrated services, especially in broadband, which are geared towards meeting customer expectations and achieving a high standard of customer satisfaction. VERVE is presented in two packages: the 100 mb and the 40 mb, both at affordable prices.
He also emphasized that STC’s success in launching the new Fiber to the Home service is a key milestone for internet services in the Kingdom, reinforcing STC’s pioneering role in broadband in Saudi Arabia. Eng. Al Daweesh reaffirmed the Company’s continuous quest to availing its financial, human and technical resources to provide the best and most comprehensive services for the community and to contribute to propelling the Saudi economy forward.
He continued by pointing out that Fiber to the Home is the new generation of broadband services and will open new vistas for customers in terms of internet usage in various fields, providing features and benefits that allow them to enjoy content, multi-play, IPTV and other services.
Eng Saud Al Daweesh also stated that the new Invision IPTV represents another quantum leap in telecommunications in the Kingdom, enabling customers to experience television, telecommunications and internet all in a new and modern approach that will drastically change television viewing in the Saudi home.
He said that the launch of Invision is a prime example of STC’s robust and modern infrastructure that is built on modern technologies and matches the most advanced in the world.
Eng. Al Daweesh added that the sports packages (Invision Basic, Invision Naqaa) come as part of the Company’s care for its customers in general as well as special interest groups such as sports enthusiasts and announced that STC plans to launch more channels and choices that will provide a variety of programs including the most famous sports championships, both local and international, with unmatched viewing quality.
Eng. Saud Al Daweesh also announced that a formal agreement has been signed with Al Jazeera Sports Television, combining Al Jazeera Sports Channels to the Invision packages, adding that Al Jazeera Sports was selected due to its leadership as one of the highest viewed channels in the Arab world.
He concluded by saying that STC is working diligently to continuously enhance Invision services by providing its customers’ with enriched content and innovative services such as buying and receiving goods without having to leave home and receiving You Tube directly on their television screen.
ITC fibre project to commence in February (Saudi Arabia)
Saudi Arabia’s Integrated Telecom Company (ITC) has confirmed that work on its US$1.1 billion fibre-optic network will start in February.
The contract, which was agreed in July 2010, will see Korean Middle East Engineering Co. (KOMEE) expand ITC’s fibre-optic coverage by 10,000km. The launch, which is expected to take four years to complete, will be implemented in four phases.
The first phase of the project will take place in capital city Riyadh, and involve the installation of around 550km worth of additional infrastructure. It is hoped that the first phase of the project will be completed within six months. The new launch is designed to complement the operator’s existing fibre network, which was recently extended to 16,000km.
Saudi cellco Mobily offers 21.6Mbps across HSPA+ network
www.WirelessFederation.com/news: It has been announced by the Saudi cellco Mobily that its customers are receiving a mobile transmission speeds of up to 21.6Mbps. The target has been achieved following recent upgrades delivered across its evolved high speed packet access (HSPA+) network.
Connectivity and transmission speeds will be enhanced by the new TurboConnect-based service throughout the company’s HSPA+ footprint. The network currently covers Riyadh, Jeddah, Dammam and Khobar, although a national rollout is underway.
Saudi Telecom appoints Ericsson to deploy LTE network
www.WirelessFederation.com/news: The contract for the deployment of a Long Term Evolution (LTE) network by Saudi Telecom Company (STC) has been awarded to Ericsson. With the deployment of LTE technology in the Middle East and North Africa, the customers in these countries will become the first to benefit from the new chain of high speed broadband services.
Any service available online like HD video, network games, IPTV, blogging and others could be effortlessly enjoyed by the customers after the enhancement of STC’s operational capabilities.
Though STC claims that its LTE network will be the first in the region, it has been reported earlier on February 15, 2010 that Zain had contracted Motorola to roll out an LTE network in Riyadh.
Saudi Telecom plans new joint stock firm
|
Saudi Telecom Company (STC), in association with Technological Investment Company and National Data Systems Company, plans to establish a limited joint stock company. STC will have a 50 per cent stake in the new Riyadh-based company, which will be involved in establishing and operating electronic markets and centres, holding auctions and conducting all types of commercial transactions, said a report in the Arab News. ‘STC’s board of directors has agreed that the company take 50 per cent stake in the new firm,’ president of STC Saud Al Dowaish is quoted to have said. STC’s investment in the new trading company comes at a time when there is increased demand for electronic services in the local market and the Kingdom has decided to activate e-government by allocating SR3 billion ($799 million) for infrastructure facilities required for the programme, the report added. The e-government programme aims at providing more than 1,000 services by 40 government departments. ‘This government move will increase demand for electronic solutions,’ he said, adding that the new company would play a leading role in facilitating electronic services. Source- http://www.tradearabia.com |
||
|
|
Technorati : Mobile, Saudi Telecom
Ice Rocket : Mobile, Saudi Telecom
