REG - Helios Towers PLC - Update on Omantel Tower Portfolio Acquisition

Helios TowersAnnouncement

25/11/2022 07:00

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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

+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.

·    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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