Zain Saudi mulling restructure options, says CEO

21/04/2016 Argaam

Mobile Telecommunications Co. Saudi Arabia (Zain Saudi) is mulling several options to restructure and enhance its balance sheet, chief executive officer Hassan Kabbani told CNBC Arabia on Thursday.

 

The telco is in talks with lenders to reschedule debts and is also studying the sale of its telecommunications towers.

 

Kabbani added a decision will be taken by the board on the purchase offers received amid strong interest from several companies to buy the towers.

 

Saudi Arabia’s third largest telco has 12 million subscribers, Kabbani added.

 

Earlier on Thursday, the telecom operator said it narrowed its net loss by 2.7 percent year-on-year (YoY) to SAR 250 million in Q1-2016.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.