VOL. XLV
No 37
16-September-2002
SAUDI ARABIA/TELECOMS
Saudi Arabia To Launch Telecoms Privatization In Fourth Quarter
Saudi Arabias Council of Ministers, at its meeting on 10 September,decided to go ahead with the sale of 30% of the shares of the state-owned SaudiTelecommunications Company (STC) in the fourth quarter of 2002. The councilalso decided to raise the companys capital from SR12bn ($3.2bn) to SR15bn($4bn) and to open the telecom sector to competition by the last quarter of2004, with...
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