Sources: Tawal in Talks to Acquire Over 10,000 Telecom Towers from Mobily

The official logo of Etihad Etisalat (Mobily) in its new version.

The telecom tower sector is a key focus for the expansion of 5G networks in the Kingdom.

Semafor platform reported, citing informed sources, that Tawal, specialized in tower infrastructure, is in talks to buy more than 10,000 sites from Etihad Etisalat (Mobily). The sources indicated that the potential deal value could reach billions of dollars, and includes Tawal buying Mobily's tower assets. They added that if progress is made in negotiations, the deal may be announced this year. The sources also predicted that after completing the deal, Tawal would start preparations for a potential IPO in 2027 or 2028. It is noted that Saudi Telecom Company (STC) had announced in December 2024 the sale of a 51% stake in Tawal to the Public Investment Fund (PIF). The fund and STC Group merged Tawal with Litas Gold Investment Company, making the fund own 53.99% of the merged entity, while STC owns 43.06%. In early 2026, the merger of the two companies under the name Tawal was completed, making it the largest digital infrastructure company in the region, with a portfolio exceeding 30,000 sites.

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This potential deal comes as part of telecom companies' strategy to sell tower assets and generate liquidity, as operators focus on core services. For Tawal, the new acquisition strengthens its position as the largest digital infrastructure company in the region, paving the way for a massive IPO that could be the largest in the sector. Observers are watching whether the negotiations will result in a deal before the end of the year, especially with growing competition in the Saudi tower market.