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Saudi Telecom’s revenues forecast to rise 9% in 2012

According to a report by Morgan Stanley Bank, Saudi Telecom Co (STC) is expected to post around 9% increase in revenues at the end of the current year, Saudi Gazette has reported. Considering the projected increase in STC revenues, the report said there was a possibility of free cash flow (FCF) for telecoms in the kingdom during 2012-2013, which would impact positively on the dividend yields to STC stock owners. The study expects the group's yearly revenues to grow 5-12% in the next three years (EBITDA/net income CAGR).