October 3, 2016 / 12:46 PM / a year ago

Saudi's Mobily says unified telco licence to boost business

DUBAI, Oct 3 (Reuters) - Saudi Arabia’s Etihad Etisalat (Mobily), an affiliate of United Arab Emirates-based Etisalat, said on Monday that a unified telecommmunication services licence would improve its positioning in the kingdom.

It added that it was difficult to determine the monetary impact of the universal licence on its business, as the details had not been communicated to it yet.

On Sunday, the Capital Market Authority said the government had decided to provide operators with “unified licences” allowing them to offer a full range of telecommunications services. It also said the government would extend the operators’ licensing periods by 15 years.

Mobily estimated a 15-year extension of its licensing period would boost its balance sheet by up to 260 million riyals ($69.3 million) annually. (Reporting by Tom Arnold; Editing by Andrew Torchia)

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