Ooredoo Group reportedly attracted broad interest in a potential sale of its 20,000 mobile towers, with Saudi Arabia’s Public Investment Fund (PIF) tipped to have entered the fray alongside a host of dedicated players.
Bloomberg reported the Saudi sovereign wealth fund was considering a bid for Ooredoo’s towers but faced potential competition from American Tower, IHS Holding and Helios Towers.
The news site reported Ooredoo could raise between $3 billion to $5 billion through the sale, with interested parties expected to submit bids in the coming days.
Ooredoo detailed plans to split its tower assets from its main business in September, following speculation it was seeking to sell.
It stated such a move would boost its position in specific markets and its overall efficiency.
If it proceeds with a sale, Ooredoo would join a growing number of mobile operators seeking to cash-in on their tower assets.