Ooredoo and Zain Forge Partnership to Launch Leading Tower Company in North Africa

Ooredoo Group and Zain Group, leading telecom providers, are in the process of launching a new independent cellphone tower company, focusing on assets in the Middle East and North Africa (MENA) region.

The companies have officially announced their entry into exclusive negotiations with UAE-based TASC Towers Holding to amalgamate tower assets across Algeria, Tunisia, Qatar, Kuwait, Iraq, and Jordan. This strategic collaboration is expected to establish the largest tower company in the MENA region, boasting around 30,000 assets. Zain, with a commercial presence in seven Middle Eastern and African countries, caters to over 53 million customers, while Ooredoo serves 10 countries across the Middle East, North Africa, and Southeast Asia.

The enlarged tower company will operate independently, emphasizing operational efficiencies, synergies, and a reduced carbon footprint. Ooredoo and Zain will retain their active infrastructures, and the potential transaction aims to enhance shareholder value, maximize capital efficiency, and align with growth strategies.

The negotiation process for definitive agreements is set to proceed exclusively in the third quarter of 2023, subject to regulatory approvals and final terms. The implementation of the transaction will follow a customized timeline for each market, considering regulatory factors and ensuring a smooth operational transition.