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Mobily may spend $670m on expansion plan

17 June 2010

Khalid Al Kaf, chief executive of Saudi Arabia's Mobily, has said the telecoms may spend more than SR2.5bn ($670m) in 2010 on expansion and increasing its market share, Reuters has reported. "We put on the ground SR2bn to SR3bn annually" over the last five years, Al Kaf told the news service. Capital expenditure as a percentage of "revenue will be the same as what we did the previous year. In an absolute value, it will be a little bit higher."

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