Helios Towers Oman deal marks maturity of region
Following Helios Towers closing of its Omantel deal, is there anything to stop Oman becoming MENA’s most developed towerco market?
Helios Towers closed its acquisition of Omantel’s passive infrastructure assets in Oman, adding 2,519 sites to its portfolio for a gross consideration of US$495mn. 227 IBS sites remain to close following extended regulatory involvement for US$53mn. Slightly more than 100 sites appear to be remaining with Omantel, which is typical for the region, as sites which are seen as core or sensitive are required to stay with the operator.
After being first announced in May 2021 it has taken over a year to close the deal. Tom Greenwood, Chief Executive Officer, commented: “We are delighted to close the acquisition of Omantel’s tower assets.