Muscat – Omani Qatari Telecommunications Company (Ooredoo Oman) is preparing to sell and lease back its passive tower infrastructure in the sultanate.

Ooredoo Oman has issued a tender to sell and lease back its passive tower infrastructure, as stated in a disclosure submitted to the Muscat Stock Exchange by the company.

According to Ooredoo Oman, several companies with expertise in telecommunication towers have been invited to submit bids for the purchase and leaseback of their passive tower infrastructure. The company is currently evaluating the offers it has received.

Ooredoo Oman said that the proposed transaction is in the early stages, and it is not possible at this point to determine its financial impact on the company.

‘Ooredoo will provide updates to the market regarding any significant developments in the project. The winning bid will be disclosed once a final decision is reached by the company, subject to approval from the Telecommunications Regulatory Authority and other relevant authorities in compliance with the law and the company’s internal regulations,” Ooredoo Oman said.

In a similar move, Ooredoo Oman’s competitor, Omantel, completed the sale of its passive tower infrastructure in Oman to Helios Towers Company in December 2022. Omantel sold its passive tower infrastructure consisting of 2,519 sites to Helios Towers for a gross consideration of $495mn.

During the first quarter of 2023, Ooredoo Oman’s net profit declined by 37.8% to RO2.8mn from RO4.5mn in the same period last year, primarily due to higher expenses. However, the company’s revenue for the first three months of 2023 increased by 1.9% to RO65.9mn compared to RO64.7mn in the corresponding period of 2022.