Bulgaria’s competition watchdog allows sale of mobile towers to Saudi company Tawal

Bulgaria’s competition watchdog allows sale of mobile towers to Saudi company Tawal

Bulgaria's Vivacom to rent mobile towers from Tawal after acquisition. / Tawal

By bne IntelliNews August 17, 2023

Bulgaria’s Competition Protection Commission has allowed the sale of 3,200 mobile towers by United Group to Saudi company Tawal, it said in a decision published on its website.

In April, United Group signed an agreement with Tawal, a subsidiary of stc Group, to sell its mobile tower infrastructure unit in Bulgaria, Croatia, and Slovenia (TowerCo).

According to the United Group, its TowerCo infrastructure, comprising more than 4,800 towers, has been valued at €1.22bn.

The Saudi company has also pledged to build 2,000 new towers for United Group.

In Bulgaria, United Group owns the largest mobile operator, Vivacom. The sale of the mobile towers in the country was objected to by Yettel Bulgaria.

After the sale, Vivacom will rent the mobile towers from Tawal.

Tawal's acquisition of TowerCo is the first investment the company has made in the European telecoms sector.

Tawal is the largest integrated ICT infrastructure provider in the MENA region and owns a portfolio of more than 16,000 mobile towers. The acquisition will allow Tawal to expand its operations in Europe and will provide it with a foothold in the region.

#Bulgaria #telecoms

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