State-owned cellco Saudi Telecom Company (STC) is mulling the sale of its telecom towers as a means to diversify revenues and improve efficiency, Bloomberg writes, citing CEO Khaled Bin Hussain Biyari. Under the plan, STC would spin off its towers into a new entity, which would then sell off the portfolio. ‘We are seriously considering it, we are doing our internal assessment in terms of what value it will bring us,’ the official explained, adding: ‘It’s not about the money. It’s about creating efficiency in operation.’ As previously noted by Comms Update, STC’s rivals Etihad Etisalat (Mobily) and Zain Saudi Arabia are also looking to sell off their tower assets.