Zain said in a press statement, that the agreement signed by Zain Saudi Arabia stipulated the sale of infrastructure to 8100 towers, and re-renting them for a period of 15 years with the possibility of extension. p>
The agreement also included the construction of another 1,500 towers over the next six years.
The group revealed that the company was able to raise the total value of the agreement from 2.43 billion riyals to 2.52 billion riyals.
She explained that she would use the proceeds of the sale to reduce the Murabaha joint financing in the full amount, which would lead to a reduction in the financing burden, and focus on the core business of the company through the development of technology and services. < / p>
It is worth noting that this agreement is subject to the approval of the Communications and Information Technology Commission and the funding authorities.
IHS Holding Limited is the largest operator of telecom towers in the European, Middle East and Africa markets, and the third largest tower company in the world.
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