Three bidders are in the running for the communications tower network of Oman Telecommunications (Omantel), representing a deal valued at $500 million, sources with knowledge of the matter told Reuters.
The sale comes in an effort to strengthen the company’s balance sheet after being negatively affected by the COVID-19 pandemic.
The bidding companies include a partnership consisting of Omani infrastructure fund Rakiza and telecom group IHS Towers; Oman Towers, which leases telecom towers and other infrastructure to service operators in Oman; and Helios Towers, a telecom tower infrastructure firm that operates in Sub-Saharan Africa.
A response to the bids is expected to come on Dec. 17.
