Page 39 - SAMENA Trends - September 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

shareholders and the UAE.” “For launch of
its advanced technology, Yahsat sought
a reliable and high-performance ride to
orbit. We’re proud it has selected Falcon
9, one of the world’s most frequently flown
launch vehicles, and we look forward
to a successful mission,” said SpaceX
Vice President of Commercial Sales Tom
Ochinero. With operations in more than 150
countries spanning 5 continents, Yahsat is
the preferred partner for reliable integrated
satellite communication solutions and
an industry center of excellence for both
government and commercial customers.
The Company was established in the UAE
in 2007 to meet the growing demand for
satcom services by providing a secure
and reliable means of global connectivity,
regardless of geographic constraints.
next stage of our growth.” He added: “The forging partnerships with the world’s most Thuraya, a subsidiary of Yahsat, operates
UAE has established its position as a innovative companies to enhance our the Thuraya satellite fleet and has a
competitive player in the space industry competitiveness, deliver on our ambitious successful track record of over 20 years in
by collaborating with global leaders such growth and expansion plans, and continue providing innovative services in the global
as SpaceX. At Yahsat, we will continue to create value for our customers, satellite communications sector.

Zain to Sell Majority of Saudi Arabia Towers Unit

Zain Saudi Arabia accepted offers from the towers unit. Prince Saud Bin Fahad and way to execute the offer”, adding the deal
country’s sovereign wealth fund and two Sultan Holding Company will each take is not yet finalized as it awaits approvals
other investors to sell stakes totaling 80 10 per cent stakes. Combined, the three from relevant authorities. Bloomberg
per cent of its towers infrastructure valued investors will take over 8,069 towers. Zain reported PIF’s bid amounted to $484
at $807 million. In a filing with the Saudi will keep ownership of the remaining 20 per million. Media reports in June claimed
Stock Exchange, the operator stated its cent of the tower unit, including wireless Saudi Arabia’s sovereign fund was looking
board approved non-binding offers which communication antennas, software, to sell some of its majority stake in Saudi
will result in the Public Investment Fund technology and IP. The company explained Telecom Company as it aimed to invest in
(PIF) acquiring a 60 per cent stake in its it will work with the investors “on the best new assets.

39 SEPTEMBER 2021