Mobily Confirms Preliminary Talks with TAWAL Over Potential Sale of 10,000+ Telecom Towers

RIYADH — Etihad Etisalat Company (Mobily), Saudi Arabia’s second-largest mobile operator, has officially confirmed holding preliminary discussions with Telecommunication Towers Company Limited (TAWAL) regarding the potential sale of its telecommunications tower infrastructure.

The clarification—issued in a regulatory filing on the Saudi Exchange (Tadawul)—follows recent international media reports detailing negotiations for TAWAL to acquire more than 10,000 tower sites from Mobily. Mobily, which counts the UAE’s state-controlled telecoms group e& among its major shareholders, noted that while talks have taken place, no binding legal obligations or financial commitments have been established.

"No memorandum of understanding (MoU) or binding agreement has been entered into between the parties, other than a standard confidentiality agreement required by the nature of the discussions," Mobily stated. "Accordingly, as of this date, the preliminary discussions entail no financial impact or any binding legal obligations."

Backed by Saudi Arabia’s Public Investment Fund (PIF)—which agreed to acquire a 51% controlling stake in TAWAL from STC Group—TAWAL currently operates more than 30,000 telecom towers across Saudi Arabia, Bulgaria, Croatia, Slovenia, and Pakistan. The infrastructure company expanded significantly into European markets following its $1.34 billion acquisition of United Group’s tower portfolio.

If negotiations progress to a final deal, the multi-billion-dollar transaction would mark one of the largest infrastructure consolidations in the Middle East. Analysts suggest the asset sale would grant TAWAL unprecedented scale in the Kingdom while allowing Mobily to optimize its capital structure and focus on core connectivity and digital services. Reports indicate TAWAL may utilize the asset expansion to prepare for an initial public offering (IPO) targeted for 2027 or 2028.