Zain Saudi says still in talks with consortium for tower sale

02/10/2017 Argaam

 

Mobile Telecommunications Co. Saudi Arabia (Zain Saudi) said it is still in talks with a consortium led by IHS Holding Limited and Towershare Management Limited for the sale and lease back of its towers, following the end of exclusivity period.

 

There are no material developments at this stage, the telecom operator added in a bourse statement on Monday. 

There is no binding agreement, and there is no certainty that an agreement will be reached.

 

The Kingdom’s third-largest mobile operator started negotiations with the consortium on Aug. 6 to sell its towers.

 

Exclusive negotiation has been granted for a limited period, ending on Sept 28.

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