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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Zain Saudi Arabia Moves Ahead on Towers Sale

PIF GLI
The sale of 8,069 tower assets over to a PIF-led consortium was approved in February. Asharq Al-Awsat

Mobile telecommunications company Zain Saudi Arabia said on Sunday it had transferred ownership of its unit Zain Business Limited to the Public Investment Fund (PIF), paving the way for the sale of the company's towers infrastructure.

PIF has changed the unit's name to the Golden Lattice Investment Company (GLI), a statement posted on the Saudi stock exchange said, which will become the holding company in charge of the sale of Zain KSA's towers infrastructure units.

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