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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.
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