Telemach mobile towers sold to Saudi company

United Group, the Amsterdam-based media and telecommunications corporation, has sold its mobile towers infrastructure in Slovenia, Bulgaria and Croatia to the Saudi company Tawal. While the value of the transaction has not been disclosed, United Group values the infrastructure at €1.22 billion.

In Slovenia, United Group owns several media outlets, as well as the telecommunication services provider Telemach.

In a written statement on 21 April , the company said the sale was in keeping with a global trend in the industry of monetising on mobile towers.

The proceeds from...