Mobile Telecommunication Company Saudi Arabia (Zain) on Monday announced that it has won a further spectrum in the frequency bands for a period of 15 years through its participation in an auction.
The auction was conducted by the Communications and Information Technology Commission (CITC) on Sunday 11 December 2018, according to the company’s statement to the Saudi Stock Exchange (Tadawul).
Scheduled to be paid in equal annual installments, Zain won 2x10MHz of spectrum in the 800MHz band for a total license fee worth SAR 84 million, the telecoms operator said.
The total amount of the fee will be paid over the coming 14 years starting from 1 January 2019, in addition to an annual usage fee of SAR 54 million, the Tadawul-listed company noted, citing that the new spectrum will be available for Zain’s use by the second half of 2018.
Zain will finance the total annual fees from its operating cash flows and existing cash reserves, according to the statement.