A view of Mobily logo.
TAWAL Co., a telecommunications tower company, is in talks to acquire more than 10,000 tower sites from Etihad Etisalat Co. (Mobily), Semafor reported, citing people familiar with the matter. 
The potential deal could be worth several billion dollars and would involve TAWAL acquiring Mobily’s tower assets, the sources said.
The deal could be announced later this year if negotiations make progress, the sources added.
Following completion of the transaction, Tawal is expected to begin preparing for a potential IPO in 2027 or 2028.
According to Argaam data, stc sold a 51% stake in TAWAL to the Public Investment Fund (PIF) in December 2024.
PIF and stc then merged TAWAL with Golden Lattice Investment Co., with PIF holding 53.99% of the combined entity and stc owning 43.06%.
The merger was completed in early 2026 under the TAWAL brand, creating the region’s largest digital infrastructure company with a portfolio of more than 30,000 sites.
A view of Mobily logo.
TAWAL Co., a telecommunications tower company, is in talks to acquire more than 10,000 tower sites from Etihad Etisalat Co. (Mobily), Semafor reported, citing people familiar with the matter.
The potential deal could be worth several billion dollars and would involve TAWAL acquiring Mobily’s tower assets, the sources said.
The deal could be announced later this year if negotiations make progress, the sources added.
Following completion of the transaction, Tawal is expected to begin preparing for a potential IPO in 2027 or 2028.
According to Argaam data, stc sold a 51% stake in TAWAL to the Public Investment Fund (PIF) in December 2024.
PIF and stc then merged TAWAL with Golden Lattice Investment Co., with PIF holding 53.99% of the combined entity and stc owning 43.06%.
The merger was completed in early 2026 under the TAWAL brand, creating the region’s largest digital infrastructure company with a portfolio of more than 30,000 sites.
