Qatar’s Ooredoo, Kuwait’s Zain Group, and the UAE’s TASC Towers Holding have formally agreed to merge their combined portfolio of approximately 30,000 cellular towers, forming a $2.2B entity – the largest tower operator in the Middle East and North Africa. In the merged entity, Ooredoo and Zain will each hold 49.3%, achieved through an asset and cash equalisation process, while TASC’s founders will retain the remaining ownership and continue managing business operations. Completion of the deal is anticipated in 2024, subject to regulatory approvals.
