Zain draws closer to first tower sale deal

Information Memorandums (IMs) are understood to have been issued to prospective bidders for Zain Group’s tower assets in Saudi Arabia and Kuwait. The documents were reported to have been sent out to bidders earlier this month. Zain is hoping to sell around 2,000 towers in Kuwait and 6,500 in Saudi Arabia, and hired Citi and Hardiman Telecommunications to run the process earlier this year. Zain is also hoping to sell around 1,000 towers in Sudan.