Competition Protection Authority Approves Part of Zain and Ooredoo Qatar Tower Merger
Kuwait's Competition Protection Authority approved Ooredoo Qatar's participation in a Zain tower infrastructure platform as part of the phased merger deal.
Translated by Qiyas from الجريدة — Original source
Zain, the mobile telecommunications company, announced that the Competition Protection Authority approved the economic concentration related to the current infrastructure platform for Zain’s towers, through Ooredoo Qatar’s participation in this platform as part of the agreed merger of the two parties’ telecom tower portfolios.
In a disclosure to the Kuwait Stock Exchange, Zain stated that the transaction is subject to fulfilling the remaining conditions stipulated in the deal documents and obtaining the required regulatory approvals. The relevant tower infrastructure platform will merge the telecom towers owned by Ooredoo and Zain in Kuwait and Qatar through their respective operating companies.
The company clarified that this approval represents an important step in the phased implementation of the broader deal between Ooredoo and Zain, with other relevant markets to follow, subject to obtaining applicable regulatory approvals and meeting deal requirements. It anticipated that these transactions would have a positive impact on the group’s future operations, although this could not be quantified at this stage.
