Saudi telco Mobily signs deal worth $650 million with NSN and Ericsson.

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In another NSN related news, Saudi’s 2nd top operator Etihad Etisalat, or Mobily has inked a deal with NSN and Ericsson to upgrade its infrastructure. It will be buying equipment from both the companies and will raise $650 million for this in long-term financing.

The telco is working with Credit Agricole and Deutsche Bank on the 10-year facilities. The investment will be used to upgrade its infrastructure, it said. Mobily, Saudi Arabia’s No 2 of three mobile companies, said in January it would spend nearly $6 billion (Dh22.03 billion) over five years to upgrade and expand the company’s infrastructure.

The news comes on the heels of reports of Nokia buying Siemens stake in NSN.

http://www.nokiapoweruser.com/2013/07/01/nokia-may-be-buying-siemens-stake-in-nsn-for-2-billion-euros-so-the-board-meeting-was-about-this/

Seems, all the stars are aligned for the Nokia’s full ownership of NSN and this deal shows how NSN is still on the growth path.

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