Rank 04 ( Rank in 2023 , 05 ) Olayan M . Alwetaid – CEO of STC Group
STC Group continued to deliver on its DARE 2.0 digital transformation strategy , which stands for Digitalise STC ; Accelerate core asset performance ; Reinvent customer experience at world-class standards ; and Expand aggressively in scale and scope .
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The strategy is geared towards developing growth opportunities across commercial ( gaming , media , smart home ); business ( cyber , cloud , mega projects , IT ); wholesale ( data hub ); and new markets ( Kuwait , Bahrain , digital banking , Tawal towers and Aqalat real estate companies ).
STC Group achieved its highest-ever revenues for the nine months to end-September 2023 , reaching SAR 54.61 billion ( US $ 14.56 billion ), reflecting a growth rate of 9.1 % year-onyear .
The telco also effectively raised its stake in Spanish telco Telefonica to 9.9 %, having amassed a stake worth US $ 2.23 billion , consisting of 4.9 % of Telefonica ' s shares and financial instruments that give it another 5 % in so-called economic exposure to the company .
Continuing the tower theme popularised in the region , STCowned Tawal towers company successfully acquired United Group ’ s telecom tower assets in Bulgaria , Croatia , and Slovenia , amounting to 4,800 towers .
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Rank 04 ( Rank in 2023 , 05 ) Olayan M . Alwetaid – CEO of STC Group
STC Group continued to deliver on its DARE 2.0 digital transformation strategy , which stands for Digitalise STC ; Accelerate core asset performance ; Reinvent customer experience at world-class standards ; and Expand aggressively in scale and scope .
.
The strategy is geared towards developing growth opportunities across commercial ( gaming , media , smart home ); business ( cyber , cloud , mega projects , IT ); wholesale ( data hub ); and new markets ( Kuwait , Bahrain , digital banking , Tawal towers and Aqalat real estate companies ).
STC Group achieved its highest-ever revenues for the nine months to end-September 2023 , reaching SAR 54.61 billion ( US $ 14.56 billion ), reflecting a growth rate of 9.1 % year-onyear .
The telco also effectively raised its stake in Spanish telco Telefonica to 9.9 %, having amassed a stake worth US $ 2.23 billion , consisting of 4.9 % of Telefonica ' s shares and financial instruments that give it another 5 % in so-called economic exposure to the company .
Continuing the tower theme popularised in the region , STCowned Tawal towers company successfully acquired United Group ’ s telecom tower assets in Bulgaria , Croatia , and Slovenia , amounting to 4,800 towers .