Helios Towers has announced the acquisition of Omantel’s passive infrastructure assets in Oman.

The transaction intends to develop world class asset-light, strategic and advanced communication networks in Oman. 

The portfolio involves the acquisition of 2,519 sites out of the 2,890 sites (227 sites still subject to regulatory approval) for a gross consideration of US$495 million. Rakiza Telecommunication Infrastructure to acquire a 30 % stake in the holding company for US$172.5 million.