Digital Bridge said to be among bidders for Mobily’s towers

Digital Bridge Holdings is among the leading bidders for Etihad Etisalat Co.’s (Mobily) wireless towers in Saudi Arabia, Bloomberg reported, citing unnamed people familiar with the matter.

The deal, if successful, could bring $2 billion to Mobily, it added. Saudi Arabian Oil Co. (Aramco) and buyout firm, Abraaj Group, are backing Digital Bridge’s bid, Bloomberg added.

The United States-based Digital Bridge, which invests in communication infrastructure, has also submitted a bid for the tower network owned by Kuwait’s Zain, according to the same people.

Tower operator IHS Group Holdings Ltd., private equity company Providence Equity Partners Inc. and family-owned firms Al Rajhi Group and Al Zamil Group were among the bidders for Mobily’s towers, according to Argaam.

Mobily, which is 27 percent owned by the UAE’s Etihad Etisalat Co., said last year it might sell its towers after accounting irregularities cost the company billions in market value.