Ooredoo, Zain and TASC Towers Create the Largest Tower Company in the MENA Region Valued at USD 2.2 Billion

Ooredoo, Zain and TASC Towers Create the Largest Tower Company in the MENA Region Valued at USD 2.2 Billion

Kuwait City, Dec 5: Ooredoo Q.P.S.C. (“Ooredoo”) – Ticker: ORDS and Mobile Telecommunications Company K.S.P.C (“Zain Group”) -Ticker: Zain announce the signing of definitive agreements between Ooredoo Group, Zain Group and TASC Towers Holding (“TASC”) to create the largest tower company in the MENA region, in a cash and share deal. The enlarged tower company, …

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Kuwait City, Dec 5: Ooredoo Q.P.S.C. (“Ooredoo”) – Ticker: ORDS and Mobile Telecommunications Company K.S.P.C (“Zain Group”) -Ticker: Zain announce the signing of definitive agreements between Ooredoo Group, Zain Group and TASC Towers Holding (“TASC”) to create the largest tower company in the MENA region, in a cash and share deal.

The enlarged tower company, comprising approximately 30,000 towers, has a combined estimated current enterprise value of USD 2.2 billion. Ooredoo and Zain will equally retain a substantial stake of 49.3% each in the newly restructured entity, through an asset and cash equalisation process. The founders of TASC will retain the remaining shareholding, through Digital Infrastructure Assets LLP, and will continue to manage the operations of the business.

The