The imminent departure of Saudi Telecom Co’s head of international operations may herald a change in focus back to the Riyadh-based telco’s domestic market, as a dearth of big ticket acquisition targets, forex fluctuations and stifling offshore regulation makes expansion overseas all the more difficult, say analysts.
On Monday, Saudi Telecom, or STC, said Gassan Hasbani, the chief executive of international operations, will leave the company at the end of October. Until a new structure is identified, the international division will come under the supervision of group chief financial officer Krishnan Ravi Kumar.
Analysts said Hasbani’s departure, on top of group chief executive Saud Al Daweesh leaving earlier this year, could signal a change in strategy for the majority government-owned owned telco.
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