Mobily makes first payment for additional spectrum

Etihad Etisalat Co. (Mobily) said it has paid the first installment of SAR 126.9 million to acquire additional spectrum.

The payment, which represents 30 percent of the total cost of the acquired spectrum, was made within the grace period which ended by Sept. 11, 2017, the company said in a statement on Tadawul.

The remaining amount will be paid in equal annual installments over a 10-year-period.

This investment will allow Mobily to increase its network capacity, improve customer experience and contain its future capital expenditures, the telecom operator added.

The expected financial impact will start from Jan. 2018, the statement also said.

In June, Etihad Etisalat Co. (Mobily) acquired additional 2x5 MHz block in the 1800 MHz spectrum band for SAR 422 million, which would be available to the company available early in 2018, Argaam reported.