Established in 2004 by a consortium led by Etisalat, UAE-based telecom conglomerate, Etihad Etisalat (Mobily) is Saudi Arabia’s second largest mobile operator. In August 2004, Mobily was awarded a 25-year mobile telecommunication license for SAR 12.2 bn (USD 3.25 bn). This was complemented by the subsequent purchase of a 3G license for SAR 754 mn (USD 201 mn). In December of the same year, the company listed on the Tadawul Stock Exchange raising SAR 1 bn in an IPO of 20% of its shares.

The company launched its operations in May 2005, starting first its services on a GSM and 3G network. As of June 2006, it began offering 3.5G services (HSDPA based). In December 2005, seven months after the commercial launch of its services, Mobily surpassed the two million subscribers mark.

At the end of 2007, two years and a half since commercial launch, it is estimated that Mobily’s subscriber base reached almost 10 mn (The company no longer discloses subscriber data). This equates to a market share of approximately 37% of mobile subscribers in the kingdom.