Saudi Arabia’s PIF to Consider Bidding for Ooredoo’s Tower Unit
- Public Investment Fund plans to make offer via Tawal arm
- American Tower, Helios also among parties weighing bids
Photographer: Ye Aung Thu/AFP/Getty Images
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Saudi Arabia’s Public Investment Fund is among suitors weighing a final bid for network towers being sold by Qatari telecom firm Ooredoo QPSC, people familiar with the matter said. Ooredoo shares jumped in Doha trading.
American Tower Corp., IHS Holding Ltd. and Helios Towers Plc are also considering binding offers for all or part of the portfolio, according to people, who asked not to be identified as the matter is private. Ooredoo’s tower assets, which span the Persian Gulf region, as well as countries including Algeria, could be valued at $3 billion to $5 billion in any deal, they said.