Sources told Bloomberg that the Saudi Public Investment Fund is considering submitting an offer to buy the towers of the Qatari company, Ooredoo.
The group of investors that will make final bids includes American Tower Corp, IHS Holding and Helios Towers.
It is estimated that the assets of Ooredoo’s Abraaj, which amount to 20,000 towers, range between 3 billion and 5 billion dollars.
The Public Investment Fund last month offered to buy a majority stake in Tawal, the tower unit of Saudi Telecom Company stc.
It is noteworthy that the Public Investment Fund intends to invest $24 billion in the Middle East and North Africa.
The sources indicated that discussions are still going on, adding that there is no confirmed information about any of those interested in the deal taking a decision to submit an offer.
Ooredoo said, last September, in a disclosure to the Qatar Stock Exchange, that it is preparing for a possible separation of its telecom towers portfolio, which includes 20,000 towers distributed over the markets in which it operates to obtain the best return on its infrastructure.
And the group's official spokesman was satisfied, according to Bloomberg, by saying that the process of separating the towers portfolio will take place during 2023.
The sources said that the Public Investment Fund intends to apply for the acquisition of Ooredoo's assets through the Towal Telecom Company, which last month made a non-binding offer to acquire a majority stake in it, which is the telecom towers company of the Saudi Telecom Company STC.
