Saudi Telecoms Company (STC) says it will focus heavily on investing in broadband services before the end of 2015.

“Our main focus is enhancing broadband reach, fibre and wireless broadband. More than half of our subscriber base will be on broadband over the next three years.” says Ghassan Hasbani, chief executive officer of STC’s international operations.

STC launched super-speed mobile broadband technology long-term evolution (LTE) in Saudi Arabia September 2011 and rolled out the technology in Kuwait and Bahrain by the end of December last year as part of a $1bn infrastructure investment plan.

While investment in infrastructure is its main focus, the company is also on the lookout for any acquisition opportunities in the Middle East, Africa and Asia regions.

“We are looking at any opportunity that is at the right price today, because given the current market situation, prices should be attractive for assets. With our financial capabilities, we will be able to make an acquisition provided we find one that is complementary to our portfolio,” says Hasbani.

Hasbani says the company is building up its internal capabilities in preparation for a potential acquisition or a greenfield licence in the meantime.  

“There may not be greenfield opportunities in 2012, but we are optimistic that some opportunities will be emerging,” he says.

The operator was one of seven that placed a bid on Syria’s third mobile licence, which has since been postponed due to the political upheaval in the country. STC’s interest in Iraq’s fourth mobile licence has waned given the lack of progress and information from Iraq’s telecommunications ministry.

STC is still keen to increase its international footprint, in hopes that its operations outside of Saudi Arabia will account for 50 per cent of total revenue by the end of 2013 or early 2014 at the latest. The overall revenues from its international operations last year grew by 9 per cent.

The company has also set up a $50m venture capital fund based to invest in local technology start ups. It is based in Bahrain, but will have a regional focus.

“How quickly we offload this investment depends on the innovative ideas in the region. It is a very rigorous process and will also consider acquisitions and investments around the world that could bring value to the region,” says Hasbani.