Towers businesses combine
July 26, 2023
By Chris Forrester
Three giant telcos are combining their cellular towers businesses which will create a company of almost 30,000 tower sites.
The three companies, National Mobile Telecommunications Company (Ooredoo) has entered exclusive negotiations with Mobile Telecommunications Company (Zain Group) and UAE-based TASC Towers Holding to establish the largest tower firm in the MENA region.
Ooredoo, Zain and TASC will then control major cellular distribution in Qatar, Kuwait, Algeria, Tunisia, Iraq, and Jordan into a jointly owned independent tower company in a cash and share deal.
Ooredoo and Zain will keep their respective active infrastructure, including wireless communication antennas, intelligent software, and intellectual property with respect to managing their telecom networks. Meanwhile, the parties will proceed with negotiations on an exclusive basis with a view to signing definitive agreements during Q3/2023