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STC, Mobily and Zain reportedly holding talks on creation of new mobile towers business.
Three Saudi Arabian telecoms operators are working on a plan to spin off their mobile towers assets into a separate company, according to media reports this week.
Saudi Telecom Company (STC), Mobily and Zain are holding discussions on the project, Reuters reported on Wednesday, citing Saudi Arabian financial news site Maaal.
The paper said it was unclear whether the new business would be owned jointly by the telcos, or whether they would sell it off to a third parties.
There has been no official comment from the telcos.
According to the newspaper, the move could generate cost-savings of around 70% for the operators, enabling them to lower prices.
Last year Mobily announced that it was considering selling off its tower assets.
The Wall Street Journal claimed it aimed to raise US$1.5 billion-$2 billion from the sale of 10,000 towers, while Bloomberg named American Tower and IHS as possible buyers.
