Saudi Arabia's Mobily has signed export credit agency agreements worth 2.1 billion riyals ($560 million) to buy equipment from Nokia Siemens Networks and Ericsson, the telecom operator said in a bourse filing.
Nokia shares surged on Monday after it announced plans to buy out partner Siemens AG's share of their valuable network equipment joint venture, betting on the technology to run 4G networks after it stumbled a
Saudi Arabia's Mobily has signed memorandum of understandings with Nokia Siemens Networks and Ericsson to fund the purchase of $650 million of equipment from the firms, the telecom operator said on Sunday.
Finnish mobile phone maker Nokia is expected to have trimmed its losses in the first quarter, thanks to rising Lumia smartphone sales and a turnaround at its equipment venture Nokia Siemens Networks (NSN).
After falling behind Sam
Saudi Telecom Company (STC) has selected Nokia Siemens Networks (NSN) to upgrade its nationwide GSM and 3G networks and expand its commercial 4G network.
Nokia Siemens Networks is now responsible for building one-third of STC’s natio