Saudi-based TAWAL to acquire Pakistani tower company Awal Telecom
TAWAL, a Saudi ICT infrastructure company owned by stc Group, has forayed into Pakistan by acquiring Awal Telecom, an independent passive telecommunication tower infrastructure provider, for an undisclosed price.
According to TAWAL, the move marks its first entry into an overseas country and an initial step in its global expansion roadmap.
Olayan Alwetaid — CEO of stc Group said: “We are pleased of TAWAL’s–a stc Group subsidiary–entry into Pakistan market. TAWAL is anticipating fruitful partnerships with the country’s mobile network operators meeting the robust telecom’s infrastructure demand.
“We believe TAWAL has a strong position, extending its footprint outside Saudia and exploring opportunities in key regional and global markets.”
The Saudi company has agreed on a full acquisition of AWAL Telecom from its shareholders. The acquisition of the Pakistani tower company will see TAWAL bringing considerable capital investment, processes, and know-how to the former, while helping it roll out innovative products.
Saudi-based TAWAL to acquire Pakistani tower company Awal Telecom. Photo courtesy of Erich Westendarp from Pixabay.
Mohammed Alhakbani — CEO of TAWAL said: “Pakistan is an exciting, growing potential market. TAWAL is anticipating extending its digital transformation and ICT infrastructure development capabilities.
“The country is witnessing growing mobile service penetration, creating infrastructural demand that TAWAL will address. We are excited to add the AWAL team to our international operations under TAWAL umbrella, laying groundworks for further global expansion.”
Awal Telecom will be rebranded as TAWAL Pakistan after the closing of the acquisition, which is contingent on regulatory approvals from the Pakistani authorities. Currently, Awal Telecom is primarily active in the northwest region of Pakistan where it builds and operates towers.