Zain received a letter from Saudi Arabia’s Communications and Information Technology Commission (CITC) stating that IHS did not meet the regulatory requirements and did not obtain the license required to lease and purchase Zain Saudi’s towers.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…28 | the publication reaches you by | Bahrain News
In August 2017, the company announced that its board of directors decided to enter into exclusive negotiations with a consortium led by IHS Holding Limited and Towershare Management Limited for the sale and leaseback (SLB) of its towers.
In November 2018, it announced that it had agreed a 15-year deal covering the sale and leaseback of 8,100 towers worth 2.43 billion Saudi riyals ($647.7 million).
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