Saudi Arabia's stc Group's ICT infrastructure subsidiary, Tawal, has signed an agreement to acquire United Group's telecommunications tower assets for a value of EUR 1.220 billion. United Group, majority owned by BC Partners, is Southeast Europe's leading multi-play telecoms and media company. The acquisition marks Tawal's first foray into Europe and a significant milestone in stc Group's international expansion journey.
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Tawal to operate more than 4,800 sites in Europe
Upon completion of the acquisition, Tawal will own and operate more than 4,800 sites across Bulgaria, Croatia, and Slovenia, all of which are member states of the European Union. The company will provide a range of passive infrastructure services, including ground-based towers, rooftops, small cells, and in-building solutions.
As part of the agreement, Tawal will also deploy over 2,000 additional sharable sites over the next 20 years while maintaining co-location relationships with other mobile network operators.
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According to the statement, "The transaction is the first investment made by Tawal in the European telecoms sector. Tawal is the largest integrated ICT infrastructure provider in the MENA region and owns a portfolio of more than 16,000 mobile towers."
Tawal is supporting Saudi Arabia's Digital Plans
Tawal is actively supporting digital transformation plans in Saudi Arabia by expanding its reach across new cities and rural areas in the Kingdom. The company is also rolling out smart-city-ready technologies such as camouflage telecom towers, smart poles capable of hosting 5G and IoT applications, in-building solutions, and small cells.
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The transaction is subject to regulatory approval from the relevant authorities in Bulgaria and Slovenia. Upon completion, Tawal's operations in the European market will be rebranded as "Tawal Europe" and will serve as the company's platform for any future expansion in Europe.
