(Reuters) - RIYADH, April 21 - Consortia led by Bahrain Telecommunications Co. , Hong Kong's PCCW and U.S. Verizon Communications have won initial approval to operate Saudi Arabia's new fixed-line phone network, a Saudi regulator said on Saturday.
The three new firms set up to operate the fixed-line services would also sell shares in initial public offerings before the end of 2008, said Abdulrahman al-Fehaid, deputy governor at the Communications and Information Technology Commission .
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