Touch building in Beirut, Aug. 1, 2019. (The Daily Star/Hasan Shaaban)
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The Telecommunications Ministry has bought a building housing mobile operator touch for $75 million in a move that aims to save on annual rents.The government's previous arrangement for the same building was $70 million, or $7 million annually, for 10-years' rent.Choucair said an agreement had been reached between touch and the owner of the building to revoke the rental contract and replace it with a purchasing agreement.Touch is one of two mobile companies that operates Lebanon's cellular networks on behalf of the state.Touch operates over 2 million mobile lines in Lebanon.In the first five months of 2019, telecommunications revenues fell by 8.47 percent compared to the same period last year.
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