Following news that Kuwait’s largest operator Zain is considering selling its transmitter towers in several markets where it operates, the company has said the reports are “inaccurate and misleading” and that “the examination of a new tower related business model is in its very early stages.”

It also said that if it decides to undertake any changes in its tower business model in any of its markets, it will seek regulatory approvals from the relevant authorities in each country.

Reports have said that Zain is considering partnering in a newly formed tower sharing company or selling networks to enhance cash positions and then leasing them back.

These options are often used by companies to reduce capital expenditure and free up cash, allowing them to concentrate on marketing, and are common in Africa and Europe but not so much in the Middle East.

Zain has controlling stakes in operators in Kuwait, Iraq, Sudan, South Sudan, Bahrain and Jordan, while it owns 37 percent of Zain Saudi.

Zain has reportedly appointed advisors, which some sources say could be Citigroup, to help it decide on the best business model.