Saudi Arabia: Adopted Executive Regulations of the Telecommunications Law including merger control regulation

On 8 December 2022, the executive regulations of the Telecommunications Law were adopted by Ministerial decision. When a merger between service providers is to occur (inside or outside the Kingdom), applicants are required to submit information on the merger's aim, financial statements of the last three years, and conditions. Any merger that includes an acquisition of more than 5% of shares is required to submit an application for approval. After 90 days, a decision will be issued. Decisions can range from approval, conditional approval to rejection or an extension of the review.