Omantel

Operator group Zain and Omantel formed a joint venture targeting providing regional providers, international carriers, global hyperscalers and various other players with wholesale services in the Middle East.

Helios Towers all but completed a deal to acquire passive infrastructure assets from operator Omantel, announcing necessary regulatory closing conditions had been satisfied.

Helios Towers recruited Oman-based investment fund Rakiza Telecommunication Infrastructure to take a minority share in a new venture formed to house assets being bought from operator Omantel.

Helios Towers agreed to take over Omantel’s passive tower infrastructure portfolio of nearly 3,000 sites for $575 million, as the infrastructure company targets what it claims is a significant growth opportunity in the Middle East.

Helios Towers, Oman Towers and an investment fund partnered with IHS Towers, placed bids for passive mobile infrastructure assets held by Omantel in a deal thought to be worth around $500 million, Reuters reported.

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Omantel became the second largest shareholder in Kuwait-based Zain Group after acquiring an additional 12. 1 per cent stake in the company for $1. 35 billion. In a statement, Omantel said it had increased its holding in Zain to 21.