Page 42 - SAMENA Trends - February 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Zain Saudi Arabia Nears Deal For $800M Tower Sale

Zain Saudi Arabia came closer to the Saudi towers unit, while Prince Saud based TASC Towers for $500 million,
completing a sale of its 8,069 mobile Bin Fahad and Sultan Holding Company but the deal never materialized. Bader Al
towers to local investors in a deal worth are each taking 10 per cent stakes. Zain Kharafi, Zain Group CEO and vice chairman
SAR3 billion ($800 million), ending a will retain a 20 per cent stake for now, of Zain KSA (pictured), stated previously
somewhat protracted process to cash but explained PIF’s final offer includes a the company wanted to unlock value from
in passive assets to help fund network call option on the remaining stake. The its fixed infrastructure, “which can be more
and technology upgrades. The operator operator is 37 per cent-owned by Kuwait- efficiently deployed in new technologies
accepted offers in 2021 from Saudi based Zain Group and has reportedly and higher yielding investments”. The
Arabia’s sovereign wealth fund and two been exploring the sale of its towers since group has also agreed deals involving
other investors to sell stakes totaling 80 January 2015. Zain’s Saudi unit had agreed 2,607 towers in Jordan to UAE-based
per cent of its towers. Zain stated its board a sale-and-leaseback deal for the towers infrastructure company TASC Towers
had now approved the final offers from the with IHS Holding in 2018, but cancelled in an $88 million deal, and in late 2021
trio, although it noted they are still subject after the company failed to satisfy all began due diligence on a $1.3 billion offer
to regulatory approval. As previously regulatory requirements. In 2017, Zain was for its mobile and ICT managed services
announced, the Public Investment Fund reportedly close to reaching an agreement businesses in Sudan from a subsidiary of
(PIF) is acquiring a 60 per cent stake in to sell around 7,500 towers to Lebanon- local conglomerate Dal Group.

Nokia Partners with Zain KSA to Expand and Enhance Its Digital
Infrastructure

Nokia announced that it has signed an
agreement with Zain KSA to expand
the operator’s digital infrastructure and
enhance its network capabilities covering
all regions of the Kingdom. The agreement
was signed during the LEAP global
technology event in Riyadh and organized
by the Saudi Ministry of Communications
and Information Technology (MCIT). The
agreement will contribute to enhancing Zain
KSA’s network coverage while empowering
its customers by providing advanced
digital services with high-bandwidth
and low-latency technologies for the
best broadband and communications
experience. This agreement is in line
with Zain KSA’s initiatives to position the experience. Eng. Abdulrahman bin Hamad and others.” Eng. Mohammed Al-Keridy,
Saudi telecom sector on a global scale Al-Mufadda, Chief Technology Officer at Head of Zain KSA Customer Team at
and transform it into a major enabler to Zain KSA, said: “Innovation, empowerment Nokia, said: “We are proud of our long-term
achieve the objectives of the Saudi Vision and localization are the driving force relationship with Zain KSA and pleased
2030 such as comprehensive digital behind our introduction of next generation to be part of its journey to support the
transformation, transfer and localization of technologies. We recognize the importance Kingdom's transition to a comprehensive
knowledge and technology and improving of strategic partnerships with major global digital transformation for socio-economic
the quality of life. The agreement covers companies such as Nokia. Through this development by empowering individuals,
a range of Nokia solutions, including partnership announced at LEAP, we will businesses and government agencies with
AirScale Radio, Wavence Microwave, collaborate with Nokia to further develop Nokia’s latest, most reliable innovative
NetAct and EdenNet Self-Organizing technologies, use cases and multiple technologies and products. We are
Networks (SON), to improve coverage applications that will further contribute confident that our solutions will help Zain
and network performance. Nokia is to the enhancement of the services our KSA provide differentiated services and the
applying carrier aggregation and massive network provides. This will open up new best possible experience for its customers,
Multiple Input Multiple Output (mMIMO) horizons for the future of technology strengthening the company’s presence in
technology approaches to help Zain which will be based on cloud computing the country.”
KSA enhance network capacity while services, AI services, Internet of Things
continuing to support better end user (IoT) technologies, smart cities, fintech

42 FEBRUARY 2022