Middle Eastern operators Zain Group and Ooredoo Group officially launched a joint venture tower platform after closing the first phase of the transaction by combining portfolios in their home markets.
The operators stated they have brought together the assets of Zain Kuwait and Ooredoo Qatar, comprising 4,000 towers in total.
They each own a 50% stake in the platform.
Announced in 2023, the tower company was pitched as the largest of its kind in the MENA region, with a combined value of $2.2 billion.
At the time, the companies and UAE-based TASC Towers stated the entity would comprise nearly 30,000 towers in Qatar, Kuwait, Jordan, Tunisia, Iraq and Algeria.
In the latest statement, the companies highlighted how the transaction is expected to create significant value through greater scale, capital efficiencies and a dedicated operating model focused on passive telecoms infrastructure.
Additional towers are expected “to be integrated progressively into the platform”, subject to closing conditions and regulatory approvals.
They further pointed to opportunities for operators to access infrastructure in a more capital-efficient manner while supporting the region’s digital infrastructure.
Zain CEO Bader Al-Kharafi said the first closing of the tower platform “reflects our shared strategy of creating focused, scalable and sustainable platforms”.
Ooredoo counterpart Aziz Aluthman Fakhroo added it is “now executing across every digital infrastructure segment identified in our strategy as we continue building a leading regional portfolio”.
The post Zain, Ooredoo close first phase of tower venture appeared first on Mobile World Live.
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