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Mobily to spend billions on technology

  • Saudi Arabia: Saturday, November 24 - 2007 at 15:42

Mobily in Saudi Arabia says it will spend 10% of its revenues over the coming year on strengthening its technology. Speaking at the Saudi Investment Forum in Damman, Saudi Arabia, Khalid Omar Al Kaf, CEO of Mobily, said the company would spend 'billions of riyals' improving areas such as the telco's backbone to better supply services. He said there should be more collaboration in the sector and called for more deregulation. In July, Mobily announced first half 2007 operating revenues of 3.9 billion riyals, up 51% on the same period last year.

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