Ooredoo Group CEO Aziz Aluthman Fakhroo revealed the company was in final stage talks with potential investors in its towers, Bloomberg reported, with the operator expected to conduct the long expected spin-off of the assets later this year.
In an interview broadcast on the news website’s sister TV channel, the executive reportedly stated Ooredoo had received interest in the assets from more than 50 potential suitors and hoped to be able to make a related announcement later in H1.
The operator outlined plans to spin-off the infrastructure assets last year after months of speculation on the future of its towers, with some commentators expecting a complete sale.
A range of international players have been linked with the assets including Saudi Arabia’s Public Investment Fund, American Tower, IHS Holding and Helios Towers.
Ooredoo’s move is similar to action taken by operators across the globe, which are seeking to raise money from their passive infrastructure assets.
In its announcement confirming the plan to spin out the assets, made in September 2022, the operator noted it was part of a drive to become “asset-light” adding it intended to “work on a deal that is suitable for target markets, attract third tenant business and create efficiencies.”
As of that stock market disclosure, it owned 20,000 towers across its various operations.