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FINANCIAL NEWS
Saudi Government Awards MVNOs to Foreign Companies
24 Jun 2013
According to Reuters, several foreign companies have each been awarded virtual network operator licenses (MVNOs) to operate in Saudi Arabia. The licenses allow companies to lease capacity from local operators.
Virgin Mobile Middle East & Africa (VMMEA) will team up with Saudi giant, Saudi Telecom Co. Jawraa Lebara will work with Etihad Etisalat (Mobily), and Dubai-based Axiom Telecom with Zain Saudi. Local Saudi companies Fastnet and Safari both lost bids to the international competitors.
While virtual networks are widespread in Europe and other markets, Gulf regulators have been reluctant to expose by-and-large state-controlled mobile operators to competition. Following this announcement. Saudi will become only the second of six Gulf Cooperation Council Members to allow the licensing of MVNOs.
The Communication and Information Technology Commission (CITC) did not announce when the MVNOs would begin providing services. The awarding of license bids is only an initial phase in the process. In a statement, the CITC expressed its desire to move forward and its hopes that MVNOs will both improve the quality telecommunication services and lower their prices as well as provide job opportunities for citizens.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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