REG - Helios Towers PLC - Omantel Tower Acquisition Long-Stop Date Extension

Helios TowersAnnouncement

05/07/2022 07:00

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RNS Number : 2820R  Helios Towers PLC  05 July 2022

Date 5 July 2022

 

HELIOS TOWERS PLC

EXTENSION OF LONG-STOP DATE REGARDING THE OMANTEL TOWER PORTFOLIO ACQUISITION

 

On 11 May 2021, Helios Towers Plc ("Helios Towers", 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 the terms and subject to the conditions as
set out in the Acquisition Agreements (as summarised and defined in the
circular to shareholders dated 19 May 2021 (the "Circular")). As detailed in
the Circular, the Acquisition is conditional upon certain conditions being met
by the long-stop date for Completion, including approval from the
Telecommunications Regulatory Authority of Oman and other statutory
authorities in Oman, as may be applicable.

 

The Company and Omantel are continuing to work to satisfy the outstanding
conditions and have agreed to further extend the long-stop date for the
Acquisition from 12 July 2022 to 30 September 2022.

 

Defined terms used but not defined in this announcement have the meanings set
out in the Circular.

 

 

For further information, please contact:

 

Helios Towers Investor Relations

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

+44 (0)752 310 1475

 

Media Relations

Edward Bridges / Stephanie Ellis

FTI Consulting LLP

+44 (0)20 3727 1000

 

 

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. Following recent acquisition
agreements and subject to regulatory approvals, Helios Towers expects to
establish a presence in Gabon and Oman. Including these acquisitions and
committed BTS, the Group's total site count is expected to increase from over
10,500 towers to over 14,000.

·      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$6.5 billion in 2020.

·      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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