Helios Towers has agreed to pay $575 million in cash for Oman Telecommunications Company’s passive tower infrastructure portfolio of 2,890 sites.
This represents an enterprise value of $615 million, including the group’s estimate of transaction costs and capitalized ground leases of $40 million.
Omantel is the largest mobile network operator in Oman. The transaction will enable Helios Towers to establish a presence in the Middle East and become a major independent tower infrastructure provider in Oman.
“We look forward to supporting Omantel’s growth, and that of the wider Omani mobile market, through our delivery of customer service excellence and world-class infrastructure solutions and services,” said Kash Pandya, CEO of Helios Towers. “We view Oman as a very attractive and supportive market for foreign investments, with strong growth and exciting future prospects. We will be further investing capital in Oman as we add to the tower count through gr
