Ooredoo Group is in talks with Zain Group and TASC Towers to combine their 30,000 telecommunication tower assets in Qatar, Kuwait, Algeria, Tunisia, Iraq and Jordan in a cash and share deal.
This new partnership will form the largest tower company in the MENA region. The tower company will be providing passive infrastructure as a service with a focus on operational efficiencies, synergies and reduction of carbon footprint.
Ooredoo and Zain will retain their active infrastructure, including wireless communication antennas, intelligent software, and intellectual property with respect to managing their telecom networks. Ooredoo Oman’s telecom towers will not be part of the JV.
This transaction will create a potential shareholder value uplift for both Ooredoo Group and Zain Group through a more efficient capital structure. Both operators are committed to executing on their respective growth strategies to unlock significant capital and maximize value for shareholders while at the same time reducing the carbon footprint within the MENA region.
