Ooredoo reportedly advances tower sale plan

Ooredoo advances tower sale plan

Qatar-based operator Ooredoo Group has apparently advanced a plan to sell off domestic and international towers, tapping up Morgan Stanley to facilitate a potential deal, reported Reuters.

Sources speaking to the news agency, said up to 20,000 towers across its Gulf footprint and other markets including Iraq and Algeria via a sale and leaseback deal.

Operators globally have been selling off and renting tower infrastructure to raise capital for expensive coverage expansion of 4G/5G networks. 

Operators in Europe with larger purse strings have also felt the financial strain. They have reportedly pushed to have the EU force technology companies to chip in for infrastructure deployments, as they rely so heavily on the same connectivity for products and services.

Ooredoo recently inked a deal to sell off its Myanmar operations and officially exit the country which was taken over by a military junta this year.

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