Zain Saudi mulls sale of towers to consortium

22/12/2016 Argaam

Mobile Telecommunication Co. Saudi Arabia’s (Zain Saudi) board of directors is exploring the sale of its passive tower infrastructure to a consortium comprising of TASC SAL and the Arabian Company for Water and Power Development (ACWA Holding), it said in a statement on Tadawul on Thursday.

 

There is no binding agreement and no certainty that discussions with TASC SAL and ACWA Holding will lead to a transaction, it added.

 

In addition, any transaction would need to be approved by the Saudi regulatory authorities and related parties, Zain Saudi said.

 

In March, the company’s chief executive said Zain was considering joint ownership or a sale of its 7,500 mobile transmitter towers to cut operating expenses and repay debts, Argaam earlier reported.

 

Kuwait-based Zain Group’s chief executive Scott Gegenheimer said his company expected to sell its transmitter towers in Saudi Arabia for over $500 million (SAR 1.88 billion) in the first half of 2017.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read