According to local news sources, negotiations are about to commence on the sale of STC’s 80% shareholding of the Axis firm, which it acquired in 2007.
STC yesterday announced an increase of 4% in both revenues and gross profit for the first half of 2013. Its wireless broadband revenue grew 29% year-on-year, while its mobile broadband customer base grew by 40%.
The announcement comes weeks after STC laid out FTTH expansion plans to connect 600,000 locations in Saudi Arabia.
Earlier this month Axis launched a cloud-based mobile application platform to help boost capacity for social, gaming and utility apps for its mobile customers. It has population coverage of 80% and is available in 400 towns in Indonesia.
