Tawal in Talks to Acquire Over 10,000 Telecom Towers from Mobily in Saudi Arabia

Saudi Arabian telecom tower company Tawal is in advanced discussions to acquire more than 10,000 telecommunications sites from Mobily, the kingdom’s second-largest mobile operator, according to a report by Semafor. The potential deal underscores the accelerating consolidation of tower infrastructure in the Middle East, driven by demand for expanded 5G and data center connectivity.

The transaction would involve Tawal—backed by Saudi Arabia's Public Investment Fund (PIF)—purchasing the assets from Mobily, which is partially owned by the UAE’s state-controlled telecom operator e&. If finalized, the acquisition would significantly strengthen Tawal’s tower footprint across the region, adding thousands of sites to its existing portfolio of more than 30,000 towers spanning Saudi Arabia, Bulgaria, Croatia, Slovenia, and Pakistan.

Sources familiar with the matter indicated that a deal could be announced later this year. The report also noted that Tawal is expected to begin preparations for an initial public offering, potentially taking place in 2027 or 2028, as it seeks to capitalize on its expanding infrastructure assets and attract further investment.

Tawal was established in 2018 by Saudi Telecom Company (STC) and has since grown through strategic acquisitions. In 2023, the company expanded beyond the Middle East by agreeing to a $1.34 billion deal to acquire United Group’s telecommunications tower assets across Europe, including sites in Bulgaria, Croatia, and Slovenia. That move marked a major step in Tawal’s international diversification strategy.

The PIF agreed to acquire a 51 percent stake in Tawal from STC Group in 2024, further aligning the tower company with the sovereign wealth fund’s broader push to develop digital and telecommunications infrastructure in the region. The potential Mobily deal would reinforce Tawal’s position as a dominant tower operator in Saudi Arabia and set the stage for its planned public listing.