Update on Omantel Tower Portfolio Acquisition

RNS Number : 5657H

Helios Towers PLC

25 November 2022

 

25 November 2022

HELIOS TOWERS PLC

UPDATE ON OMANTEL TOWER PORTFOLIO ACQUISITION

On 11 May 2021, Helios Towers Plc (the "Company"), the independent telecommunications infrastructure company, announced that it had agreed with Oman Telecommunications Company ("Omantel"), the largest mobile network operator in Oman, to acquire Omantel's passive tower infrastructure portfolio (the "Acquisition"). On 7 June 2022, the Company announced certain updates to the structure of the Acquisition.

The Company is pleased to announce that all closing conditions for the Acquisition have been satisfied. The Acquisition is now unconditional and the Company anticipates that completion of the Acquisition will take place during December 2022.

For further information, please contact:

Helios Towers Investor Relations

Chris Baker-Sams, Head of Strategic Finance and Investor Relations

[phone]

Media Relations

Edward Bridges / Stephanie Ellis

FTI Consulting LLP

[phone]

About Helios Towers

· Helios Towers is a leading independent telecommunications infrastructure company, having established one of the most extensive tower portfolios across Africa. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.

· Helios Towers owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar and Malawi.

· Helios Towers pioneered the model in Africa of buying towers that were held by single operators and providing services utilising the tower infrastructure to the seller and other operators. This allows wireless operators to outsource non-core tower-related activities, enabling them to focus their capital and managerial resources on providing higher quality services more cost-effectively.

About Omantel

· Omantel is the first and the leading telecommunications operator in Oman with the most advanced mobile and converged networks in the country, and one of the most prominent telecom operators in the Middle East with leading technologies and initiatives in digital transformation with consolidated group revenues of US$6.3 billion in 2021.

· Omantel has further established its prominence in the Middle East in 2017 post the acquisition of a controlling stake in Zain Group; with a presence now spanning 8 countries.

· Omantel is listed on the Muscat Stock Exchange and majority owned by Oman Investment Authority.

 

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