TAWAL of stc, fully Acquires Awal Telecom, in Pakistan

TAWAL, the leading Saudi ICT infrastructure company and one of stc Group subsidiaries, has announced its entry into the Pakistan’s market, via a full acquisition of Awal Telecom.

The move, which is TAWAL’s first foray outside Saudi Arabia, in an initial step in the company’s international expansion roadmap.
TAWAL has agreed in principle on a full acquisition of Pakistani tower company AWAL Telecom from its shareholders.

The acquisition will see TAWAL bring significant capital investment, processes, and expertise to the market and introduce innovative products to its portfolio.
The deal, which is subject to regulatory approval from the Pakistani authorities, will see AWAL rebranded as TAWAL Pakistan and form the launchpad of TAWAL’s operations in the country. AWAL, a fully licensed operation by the Pakistan Telecommunications Authority, currently builds and operates in the country’s northwest region primarily.

“We are very pleased of TAWAL’s entry into Pakistan market as one of stc Group subsidiaries. TAWAL is looking forward to fruitful partnerships with the country’s mobile network operators and meeting the demand for robust telecommunications infrastructure there. We believe that TAWAL is in a strong position to extend its footprint outside Saudi Arabia and are exploring opportunities in key markets regionally and globally,” Olayan Alwetaid, Chief Executive Officer of stc Group said.