Zain postpones KSA tower sale to IHS, towerco remains committed to the region
TowerXchange is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Zain postpones KSA tower sale to IHS, towerco remains committed to the region

saudi-map.jpg

IHS remain in dialogue with both Zain and the regulator, the CITC

On 20th June 2019, the Saudi telecoms regulator, the Communications and Information Technology Commission (CITC) wrote to Zain Saudi Arabia, precipitating the operator announcing the postponement of their tower sale to IHS Towers on 23 June. Originally announced in November 2018, the IHS-Zain KSA deal marked an inflection point in the MENA tower market, but questions will now be asked about what happens next. TowerXchange examines the context for the deal and how the MENA tower market will develop absent this long-awaited, highly anticipated deal. On 27 March 2019, in a disclosure to the Boursa Kuwait, Zain announced that its Board of Directors had signed an agreement with IHS Holding Limited (IHS Towers) for the sale and leaseback of 8,100 towers, plus a 1,500 build-to-suit programme, in a deal worth SAR2.52bn


UNLOCK THIS ARTICLE

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Subscribe Login
Gift this article