(MENAFN) Zain, the Kuwaiti telecom operator, said that it has appointed advisors to study the potential sale of some of its assets, which could possibly include the sale of its transmitter towers in some of the eight markets in which it operates, Arabian Business reported.
Selling towers or sale-and-lease-back deals usually allow operators to reduce capital expenditure of these companies as well as providing some cash to focus on marketing and promotions, with these deals are typically being common in Africa, Europe and other regions, but rare in the Middle East.
Zain owns controlling stakes in mobile companies in Kuwait, Iraq, Sudan, South Sudan, Bahrain and Jordan, plus 37 percent of Saudi Arabia's No.3 operator Zain Saudi, and also has a management contract to run Lebanon's Touch, though it is expected that if a deal is made, it will be on the towers in Kuwait and Saudi Arabia.
"We have appointed advisors to advise us on the best business model for Zain, whether it's tower sharing or sale and leaseback of towers across some of our operations. To date, there is no final decision on whether we will sell or form a tower company in any of our operations," Zain said in a statement.
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