Etihad Atheeb receives its licence

7 Apr 2009

Etihad Atheeb Telecommunications has formally been awarded a fixed line licence after it completed establishment procedures and its initial public offering (IPO) for 30% of its share capital. The concession is valid for 25 years. According to TeleGeography’s GlobalComms Database, Atheeb’s shareholders include Batelco of Bahrain and Saudi private investors. It is one of three firms licensed to compete in the Saudi fixed line market alongside incumbent operator STC; the other licensees are Optical Communications, whose shareholders include Verizon Communications of the US and Luxembourg-based Millicom, and Al-Mutakamilah, a consortium led by Hong Kong’s PCCW.

Saudi Arabia, Etihad Atheeb (GO Telecom)