February 12, 2018 / 12:50 PM / 10 days ago

BRIEF-Zain Saudi Acquires Additional Spectrum

Feb 12 (Reuters) - MOBILE TELECOMMUNICATIONS COMPANY SAUDI ARABIA:

* ANNOUNCES ACQUISITION OF ADDITIONAL SPECTRUM IN 800 MHZ FREQUENCY BAND

* SECURED SPECTRUM FOR PERIOD OF 15 YEARS, FOR TOTAL LICENSE FEE OF 84 MILLION RIYALS PAYABLE OVER 14 YEARS STARTING FROM JAN 01, 2019

* CO TO ALSO PAY ANNUAL USAGE FEE OF 54 MILLION RIYALS FOR THE SPECTRUM

* THIS SPECTRUM WILL BE AVAILABLE FROM SECOND HALF OF 2018

* CO WILL FUND TOTAL ANNUAL FEES FOR NEW SPECTRUM FROM OPERATING CASH FLOWS, EXISTING CASH RESERVES Source text for Eikon: Further company coverage:

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