Saudi Arabia Awards License to OCC Consortium

A new Optical Communications Company (“OCC”) consortium’s application for license was approved by the Saudi Arabian Council of Ministers and was officially announced and signed by royal decree by the Custodian of the Two Holy Mosques, King Abdullah bin Abdul Aziz Al Saud. The OCC consortium, which is backed by a group of prominent Saudi investors, will receive management and operational support through an exclusive management services agreement with Verizon Business. It will be responsible for providing, hosting and managing both business and residential voice and data services.
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