Qatari telecom operator Ooredoo QPSC expects to carve out its portfolio of tower networks this year, in a transaction that has reportedly drawn interest from suitors including Saudi Arabia’s wealth fund and American Tower Corp.
The firm received interest from over 50 regional and international bidders and is currently in the final round of talks, Chief Executive Officer Aziz Aluthman Fakhroo told Bloomberg TV in an interview. “We’re hoping to announce something before the end of the first half of this year.”
Ooredoo said in September it will carve out its portfolio of almost 20,000 towers as part of a shift to an asset-light model. The state-controlled operator last year sold its Myanmar business for an enterprise value of $576 million and is also considering carving out its data center unit.
Saudi Arabia’s Public Investment Fund, American Tower, IHS Holding Ltd. and Helios Towers Plc were among suitors weighing a bid for the tower assets, which could be valued at $3 billion to $5 billion, Bloomberg reported in November.
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