Mobily  Saudi Mobily Company . () is a Saudi Arabian telecommunicationps services company that offers fixed line, mobile telephony, and Internet services under the brand name Mobily (). The company was established in 2004, and in the summer of that year, won the bid for Saudi Arabia's second GSM licence. Mobily launched mobile services in Saudi Arabia on 5 May 2005, breaking Saudi Telecom's monopoly in the wireless business. The company launched 3.5G services on 27 June 2006 and 4G services on 13 September 2011. Etihad Etisalat Co. was incorporated as a joint stock company under royal decree no. M/40 dated 18 August 2004. The company won the bid for Saudi Arabia's second GSM licence in the summer of 2004. The licence is valid for 25 years. Etihad Etisalat began its constituent activities on 14 December 2004 upon the publication of its incorporation. United Arab Emirates firm Etisalat holds a 27.45% stake in the company, the General Organization for Social Insurance (GOSI) holds 11.85% and the rest is held by other investors and by public shares. Etisalat Etihad held an Initial public offering in October 2004 that was massively oversubscribed (30 times). Police had to be called in to respond to unrest among investors fighting over application forms. Etihad Etisalat launched GSM mobile services under the brand name Mobily on 5 May 2005, breaking the Saudi Telecom Company's monopoly in the wireless business. The company had spent 6 months preparing for the launch, and acquired 1 million subscribers within the first 90 days of launch. The company launched 3.5G services on 27 June 2006 and 4G services on 13 September 2011. The GSM Associations "GSM Association Newsletter" Dec. 2004 edition described Mobily as the fastest growing mobile operator in the Middle East & North Africa. In 2006, Mobily reached more than 4,800,000 subscribers. As of 20 January 2007, mobily had 6 million subscribers and 0.5 million 3G users. Mobily introduced in 2004 the first telecommunication franchise business model in the Persian Gulf region, the Fully Branded outlet-(FBO), assuring rapid and cost effective expansion of its network of outlets. Since entering the Saudi market in 2004 Mobily adopted a solid expansion strategy, based on a direct and indirect sales channels. This strategy allowed Mobily to quickly expand and establish the Mobily Brand throughout Saudi Arabia, and as a result achieve its set target for 2006, both in terms of sales and revenue targets, unfortunately this has been achieved with other services and coverages being compromised as a result.