Mobily signs deals worth SAR 2.4 bln to update network

Etihad Etisalat Co. (Mobily) has signed framework agreements with Nokia, Huawei and Ericsson to modernize its mobile network, the company said in a statement to Tadawul on Monday.

The three-year agreements could be worth SAR 2.4 billion and will be funded from the company’s cash flow and available facilities, the statement said.

These deals will allow Mobily to revamp part of its infrastructure, advance its technology, and better optimize its network capital and operating expenditure, the company added.