Omantel is evaluating bids to buy towers with a return of more than $ 500 million

The Oman Telecommunications Company “Omantel” reported that it had received offers from specialized companies to buy and re-rent the inactive infrastructure of its towers in the Sultanate, while the offers are still under technical, financial and legal evaluation.

Omantel expected, in a statement to the Muscat Stock Exchange, that the sale proceeds will exceed 500 million dollars, explaining that the potential deal is still under evaluation, and therefore it is not possible to precisely determine the financial impact of it on the company.

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Reuters reported, citing two sources, that Omantel had received 3 offers, recently, including the Omani Rakiza Fund, which invests in infrastructure and is supported by the Sultanate’s sovereign wealth fund, through its entry into a partnership with the IHS Communications Group. »Mauritius-based Towers to present one of the shows.

Omani Towers, which leases communication towers and other infrastructure to wireless operators in Oman, made a bid to purchase the tower network, the two sources said.

The two sources said that the third offer came from “Helios Towers”, a communications tower company operating in sub-Saharan Africa and listed in London, explaining that the deal includes about three thousand towers.

This comes as telecom network operators increasingly seek to sell tower assets that no longer offer little competitive advantage due to converging network quality and coverage.

Zain Saudi Telecom sold 8,100 towers with its infrastructure to IHS Holding in 2018 in a deal worth 2.43 billion riyals ($ 647.7 million). Zain Group, its parent company listed in Kuwait, this year sold 1620 towers to « IHS »for $ 130 million.

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