Helios completes acquisition of Omantel tower assets

Helios completes acquisition of Omantel tower assets

MUSCAT: Helios Towers plc, the London-based independent telecommunications infrastructure company, announced on Thursday that it has closed the acquisition of Omantel’s passive infrastructure assets in Oman, adding 2,519 sites to its portfolio for a gross consideration of $495 million.

Tom Greenwood, Chief Executive Officer, commented: “We are delighted to close the acquisition of Omantel’s tower assets. The transaction represents our first in the Middle East, and we enter one of the fastest growing markets for mobile infrastructure in the region with our valued local partner, Rakiza.

"Since announcing the transaction last year, we have built a talented local team and instilled our business excellence principles, and we now look forward to working with Omantel, a great long-term partner, and the other MNOs to drive the growth of mobile communications across Oman.”

Commenting on the completion, Talal Said al Mamari, Chief Executive Officer of Omantel, said: “We are pleased to complete the sale of our passive tower infrastructure in Oman. This aligns to our strategy to develop world class asset-light, strategic and advanced communication networks in Oman. This transaction helps Omantel to achieve effective deleveraging and focus on optimised capital structure for the company. We believe Helios Towers will bring in extensive savings and