June 25, 2014 / 7:36 AM / 3 years ago

Saudi Zain signs $1.2 bln supply deals to upgrade network

DUBAI, June 25 (Reuters) - Zain Saudi, Saudi Arabia’s third biggest telecoms operator, said on Wednesday it has signed infrastructure supply contracts worth 4.5 billion riyals ($1.2 billion) to develop and expand its network.

The deal parties are Huawei, Nokia, NEC Corporation, Cisco Systems and Alcatel Lucent, Zain said in a statement on the Saudi bourse’s website.

The operator said it would use its own financial resources to finance the deals. (Reporting by Rania El Gamal; Editing by Martin Dokoupil)

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