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Mahanagar Telephone Nigam Limited (MTNL), Bharti Airtel and Reliance Communications are among the nine bidders for Saudi Arabia's third mobile licence.

March 15, 2007
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Mahanagar Telephone Nigam Limited (MTNL), Bharti Airtel and Reliance Communications are among the nine bidders for Saudi Arabia's third mobile licence. The three companies have formed consortiums with local partners for the bid. While Reliance has teamed up with Abdullah Abdulaziz Al-Rajhi, Bharti has tied up with Samawat and MTNL with Al Shoula.

Under Saudi regulations, a bidder must acquire at least 15 per cent stake in the joint venture. There is also a lock-in period of five years during which the partner cannot exit the venture.

International majors such as Orascom, Kuwait-based MTC and South Africa-based MTN are also in the race for the licence.

The winner is expected to be declared by April 2007.

 
 
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