JEDDAH: Saudi Arabia's Public Investment Fund is studying a plan to merge the mobile phone infrastructure of stc and Zain Saudi to form the largest cell tower company in the kingdom, according to Bloomberg.
Once the deal is completed, a company with 23,000 towers will be created, which the PIF will likely list on the Saudi stock market.
The merger will reduce overlap in places where both companies own towers, making investment in raising coverage and mobile internet speeds more efficient, Bloomberg reported.
