Ooredoo considers sale of tower network

Ooredoo considers sale of tower network

tower stock.jpg

Qatari telecoms firm Ooredoo is pondering a sale of its tower network, according to Reuters sources.

The company is reportedly looking to sell the towers across its network both in Qatar and other markets in which it operates.

Discussions are said to be ongoing on the matter.

Ooredoo has businesses across several markets in the Middle East, Southeast Asia and North Africa.

The company recently unveiled plans to sell its Myanmar segment for around US$576 million and a tower sale may be part of a wider strategy to restructure its assets.

Ooredoo has already informed Myanmar’s regulator, the Posts and Telecommunications Department (PTD) of its decision to sell off its business.

The Ooredoo-owned operator is the third biggest in the country and boasted 15 million users in 2020, before the military coup in the country in 2021.

Towers have been the target of sales in recent years as companies seek to reduce debt. Deutsche Telekom is looking to sell its unit to fund 5G investments while Vodafone has sold its tower businesses in New Zealand.