Zain Saudi acquires additional spectrum for SAR 844 mln

Mobile Telecommunication Co. of Saudi Arabia (Zain Saudi) has acquired 10 megahertz (MHz) of the 1800 MHz spectrum band for SAR 844 million, the telecom operator said in a statement to Tadawul on Wednesday.

This will increase the company’s spectrum in the 1800 MHz band to 20 MHz.

The first payment of SAR 253 million, representing 30 percent of the total value, will be made this year.

The remaining amount will be paid over a 10-year period as annual payments of 7 percent.

The new spectrum will boost Zain Saudi’s LTE network capacity by 50 percent, and would also enhance services’ quality.