Zain sells towers to TASC in Jordan, plans sales in two more countries
TASC touted to buy towers Iraq and Bahrain following US$88m transaction
Pan-middle eastern operator Zain has confirmed the first of three tower deals alluded to in their Q3 results, by agreeing a transaction with Dubai based TASC Towers worth US$88m for 2,607 towers.
The latest sale comes hot on the heels of an announcement that Zain had received a US$807m non-binding offer from the Saudi Arabian Public Investment Fund (PIF) for their 8,069. Saudi Arabian towers, which you can read about here. In February 2020 Zain sold 1,620 towers in Kuwait to IHS Towers for US$130m.
Zain have signed a 15-year lease back deal with TASC and have also transferred an additional 223 sites on a managed basis.