STC carving out data centre and subsea cables into new unit

Today, Saudi Telecom Company (STC) has announced that it will separate its data centre, submarine cable, and points-of-presence assets into a new unit, seeking to capitalise on the current surge of investor interest in telecoms infrastructure. The new company’s assets would reportedly have an initial valuation of roughly $560 million, with STC set to invest a further $450 million in the near future…read more on TotalTele.com »