Skip to content Skip to Search
Skip navigation

Saudi PIF to consider bidding for Ooredoo’s tower unit

By Pramod Kumar
The Ooredoo board will recommend a cash dividend of QAR0.55 per share at the annual general meeting in March Creative Commons
The Ooredoo board will recommend a cash dividend of QAR0.55 per share at the annual general meeting in March

Saudi Arabia’s Public Investment Fund (PIF) is weighing submitting the final bid for Qatari telecommunications firm Ooredoo’s network towers, Bloomberg reported, citing unnamed sources.

American Tower Corporation, IHS Holding Limited and Helios Towers Plc are contemplating offers for all or part of the portfolio.

Ooredoo’s tower assets, located in the Gulf and other markets, including Iraq and Algeria, may be valued at $3 billion to $5 billion.

The sources stated that bids are due in the coming days, adding that talks are ongoing.

Ooredoo announced in September plans to sell nearly 20,000 towers as part of a shift to an asset-light model. The state-owned telecom major recently sold its Myanmar business for an enterprise value of $576 million.

Gulf region carriers have also been divesting from tower assets to reduce infrastructure costs and focus on information and communications technology, with such deals attracting specialised tower operators.

Omantel sold 2,890 towers to Helios Towers for $575 million in 2021, Saudi Telecom spun off its 15,000-plus towers into a subsidiary called Tawal in 2019 and Zain sold 1,620 telecoms towers to IHS Holding for $130 million in 2020.

Latest articles

Members of the crew of the Bahamas-flagged vessel Galaxy Leader following their release by Yemen's Iran-aligned Houthis

Shipping giants not yet ready to resume Red Sea route

Two shipping giants said on Friday that they are in no rush to resume routes through the Suez Canal after a Yemeni militia announced earlier this week it will scale back hostilities against vessels transiting through the Gulf of Aden and Red Sea if the ceasefire in Gaza holds. Danish shipper Maersk and Abu Dhabi […]

Electronics, Hardware, Computer Under planned regulations, data centres will be 'fully protected, like embassies,' Saudi Arabia says

Foreign data centres will be secure, promises Saudi minister

A regulatory framework to protect foreign-owned data centres set up in Saudi Arabia is being planned that will treat them in a similar way to embassies, as the kingdom seeks to become a global destination for the industry. The Saudi finance minister, Mohammed Al-Jadaan, speaking at the World Economic Forum in Davos, outlined the country’s […]

With the acquisition of the Oman business, Americana operates 450 Pizza Hut restaurants across the Mena region

Americana acquires Pizza Hut business in Oman

Americana Restaurants, the largest food service business in the Mena region, has acquired the Pizza Hut brand in Oman from the Khimji Ramdas Group.  The restaurant operator said the acquisition includes 46 Pizza Hut restaurants which had an annual revenue of approximately $11 million in 2024.  The additional outlets increase its Pizza Hut restaurants across […]