In another NSN related news, Saudi’s 2nd top operator Etihad Etisalat, or Mobily has inked a deal with NSN and Ericsson to upgrade its infrastructure. It will be buying equipment from both the companies and will raise $650 million for this in long-term financing.
The telco is working with Credit Agricole and Deutsche Bank on the 10-year facilities. The investment will be used to upgrade its infrastructure, it said. Mobily, Saudi Arabia’s No 2 of three mobile companies, said in January it would spend nearly $6 billion (Dh22.03 billion) over five years to upgrade and expand the company’s infrastructure.
The news comes on the heels of reports of Nokia buying Siemens stake in NSN.
Seems, all the stars are aligned for the Nokia’s full ownership of NSN and this deal shows how NSN is still on the growth path.