Saudi Arabian telco Mobily has confirmed that the company has held talks with Tawal over the sale of its telecom towers.

The confirmation comes after media reports last week that the discussions had taken place.

Initial reports suggested that Saudi tower company Tawal was in discussions to snap up 10,000 telecom tower sites from Mobily.

In Mobily's statement, the carrier noted that preliminary discussions have taken place between Tawal and Mobily regarding a sale of the latter's tower infrastructure.

The company added that no binding agreement has been signed.

"No MoU or binding agreement has been entered into between the parties (other than a confidentiality agreement required by the nature of the discussions); accordingly, as of this date, the preliminary discussions entail no financial impact or any binding legal obligations," said Mobily.

Created in 2018 by STC, Tawal currently operates more than 30,000 telecom towers across Saudi Arabia, Bulgaria, Croatia, Slovenia, and Pakistan.

In 2023, Tawal expanded its operations beyond the Middle East after agreeing to a $1.34 billion deal to acquire United Group’s telecommunications tower assets across Europe, including Bulgaria, Croatia, and Slovenia.