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GO Telecom gains access to Mobily's fibre-optic network [TeleGeography CommsUpdate](TeleGeography CommsUpdate Via Acquire Media NewsEdge) Etihad Atheeb Telecom (GO Telecom) has signed an agreement with Bayanat Al-Oula, a subsidiary of Etihad Etisalat (Mobily), under which the former has been granted the rights to use 50,000 fibre-optic access points, in order to provide broadband access and fixed telephony services to residential users and private businesses. Further, the deal allows for the number of access points granted to GO Telecom to be increased to 250,000 in the future. According to a company press release, the new agreement is linked to a Memorandum of Understanding (MoU) signed on 20 August 2013 between Bayanat Al-Oula and GO Telecom's main shareholders -- Atheeb Trading Company, Batelco of Bahrain and Al-Nahla Trading Company. The proposed transaction is subject to regulatory approval by the Kingdom's telecoms watchdog, the Communication and Information Technology Commission (CITC) and Saudi Arabia's Capital Market Authority (CMA), and the satisfactory completion of specific commercial, financial, legal and technical conditions; a 30 November 2013 deadline was initially earmarked for the deal's completion, although the timeframe for completion has subsequently been postponed on several occasions. (c) 2014 PriMetrica, Inc. All Rights Reserved. Provided by Syndigate.info, an Albawaba.com company [ Back To TMCnet.com's Homepage ] |