Zain KSA has approved non-binding offers from the Public Investment Fund (PIF), Prince Saud Bin Fahad, and Sultan Holding Company, to acquire stakes in the Zain KSA's telecom towers, which are valued at SR3.026 billion (US$807mn) for 8,069 towers. The deal is not the first announcement regarding the fate of Zain’s towers. Back in 2016 Zain agreed a sale and leaseback which fell through, and as late as Summer 2021 it looked like Zain would do a deal with IHS Towers. This latest deal, if it closes, would see the towers acquired by a consortium of investors new to tower investment, but part of the wider trend of increased investor appetite for investing in telecom tower assets.
Zain’s plan to sell its Saudi towers
