Firms Eye $2.5B Saudi Tower Business

Saudi Telecom Company and competitor Mobily may sell a majority stake in a combined $2.5 billion merged towers business, Reuters reported. Swedish company Ericsson is considering a bid alongside Saudi private equity firm Abraaj Capital and SREI Infrastructure, Reuters added. Other potential bidders include a partnership between Indian group GTL Infrastructure and Abu Dhabi investment fund Mubadala.

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