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Zain KSA Terminates Tower Deal with IHS Holding

Mna News - Published on Thu, 02 Jan 2020

Image Source: Zain KSA
Saudi unit of Kuwait-based telecoms operator Zain Group Zain KSA has terminated an agreement with Mauritius-headquartered IHS Holding due to regulatory reasons. Zain KSA said “We have received a letter from the Communications and Information Technology Commission indicating that IHS Holding did not fulfil the regulatory requirements pertaining to the sale and leaseback of the passive towers infrastructure. Therefore, Zain KSA has disengaged and terminated the agreement to sell and re-rent the infrastructure to IHS in the kingdom.”

In March, Zain KSA had agreed to sell and leaseback infrastructure, including towers, storage and power supply, of its 8,100 mobile tower portfolio to the IHS. The lease period was for approximately 15 years and could have been renewed for another five years. IHS was also assigned to build an additional 1,500 towers in the kingdom over the next six years. The whole deal was worth SAR 2.5 billion

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Posted By : TelecomGuru on Thu, 02 Jan 2020
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