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Saudi Arabia’s Zain closes $805m tower divestiture

The deal will result in an expected net profit of up to US$290 million, which will be realised over the period of transferring ownership of the towers in batches to their new owners.

By João Marques Lima

Founder and Editor, The Tech Capital

3 Mins

January 12, 2023 | 3:00 AM GMT

Mobile telecommunication company Zain Saudi Arabia (Zain KSA) (TADAWUL: 7030) has completed a deal to sell a stake in its tower infrastructure for more than SAR3 billion (US$805 million).

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João Marques Lima

Founder and Editor, The Tech Capital

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