stc Group, a driving force behind digital transformation, has been recognized as the most valuable telecommunications brand in the Middle East for the fourth consecutive year, as well as one of the top 10 strongest telecom brands in the region, according to a report by BrandFinance. Furthermore, the group holds the position of the strongest brand in Saudi Arabia.
Read more: stc Group achieves record-breaking revenues of SAR54.61 bn
The report highlights stc’s remarkable growth, with its brand value increasing by 12 percent to reach $13.9 billion (approximately SAR989 billion). This recognition places stc as the 149th most valuable brand in the Global 500 ranking, making it the first consumer brand in the Middle East to enter the list of the top 150 most valuable brands globally. The group has climbed 10 spots from its previous position of 159 in 2023.
In 2023, stc witnessed unprecedented success, achieving significant advancements in the development of digital infrastructure, particularly through the expansion of its 5G network, which involved an additional investment of SAR3 billion. As a result, stc successfully deployed 5G capabilities in over 75 cities across the Kingdom, providing 5G technology coverage to more than 90 percent of major cities.
International expansion through strategic acquisitions
Driven by a growth-oriented mindset, stc is expanding its presence internationally through strategic acquisitions on a global scale. One notable acquisition was the purchase of a 9.9 percent stake in Spain’s Telefónica Group, making stc Telefónica’s largest shareholder. This acquisition was completed at a cost of SAR8.5 billion.
stc Group’s achievement is a testament to its growth strategy, which aims to deliver exceptional connectivity not only within Saudi Arabia but also beyond its borders. The group’s growth-oriented mindset enables it to identify and provide cutting-edge technologies, continually expanding the range and scale of its products and services.
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