Mobily, Etisalat Group not to renew services, technical support agreement

Logo of Etihad Etisalat Co.

Etihad Etisalat Co. (Mobily) announced that it has decided with Etisalat Group not to renew the agreement for services and technical support, according to a bourse filing.

Mobily and Etisalat Group will continue to explore ways of cooperation to achieve the interests of both parties and their shareholders and in accordance with the relevant laws and regulations, the company added.

Mobily's board of directors also affirmed its confidence in the company’s capabilities and ability to continue growing, providing its services at a high level, achieving its strategic ambition and adding value to its shareholders, as well as contributing to its role as an enabler of the digital economy in accordance with the Saudi Vision 2030 and creating new opportunities.

Mobily also confirmed that it has the national competencies, and accumulated technical and operational expertise capable of achieving its strategic objectives, adding that Emirates Telecommunications Group will continue was a strategic shareholder in the company.

Mobily and Etisalat Group signed in 2017 a five-year technical services and support agreement, which expired on Dec. 31, 2021, according to Argaam's data.