Skip to content Skip to Search
Skip navigation

Omantel to invest $1.6bn from towers spinoff in growth projects

By Pramod Kumar
Unsplash.com
The telecom announced the sale of its telecom towers in Oman in 2021, further expanding it to cover Saudi Arabia, Jordan and Kuwait.

State-owned Omantel, a subsidiary of Oman Investment Authority (OIA), will set up one of the largest regional telecom tower companies through the sale of telecom towers, Oman Daily Observer reported, citing CEO Talal Al Maamari.

The operator announced the sale of its telecom towers in Oman in 2021, further expanding it to cover Zain-linked infrastructure in Saudi Arabia, Jordan and Kuwait. It will further be extended to include Zain towers in Bahrain, Iraq and Sudan.

The spinoff will help invest an estimated $1.6 billion into Omantel’s long-term growth projects, the CEO said.

Omantel signed a pact with UK-based Helios Towers to sell its passive tower infrastructure portfolio of 2,890 sites for $575 million, representing an enterprise value of $615 million.

Qatari telecoms company Ooredoo said last month that it is preparing to sell 20,000 of its towers in the Gulf region and other markets, including Iraq and Algeria, through a sale-and-leaseback arrangement.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]