STC sets up mobile content JV

28 Oct 2008

Saudi Telecom Company (STC) has established a new mobile content services company in partnership with Astro All Asia Networks of Malaysia and Saudi Research and Marketing Group (SRMG). The new firm, which has a capital of SAR280 million (USD74.8 million), will be 51% owned by STC, with Astro holding 29% and SRMG 20%, Zawya Dow Jones reports. The firm will have a potential customer base of 70 million, STC says.

Saudi Arabia, Saudi Telecom Company (stc)