Saudi Telecom Company (STC) says a target to boost foreign operations to half of its total business is still realistic, despite the operator’s failed bid to enter the Syrian market.
The company last year reported revenue of 56 billion Saudi riyals (Dh54.8bn), with about 32 per cent of that coming from outside Saudi Arabia.
It had aimed to expand the overseas contribution to 50 per cent by the end of next year but has faced difficulty because of scant acquisition targets and few telecommunications licences being offered.