Riyadh – Mubasher: The sale of transmitter towers owned by telecom firms Zain and Mobily will likely lead to a substantial reduction in financial leverage, said Saudi Fransi Capital in a report.
It added that Mobily is estimated to generate around $2 billion from the towers sale, while Zain may record $1 billion from selling 7,000 towers at an average price of $100,000 and $200,000 each.
Moreover, the sale of the transmitter towers will have a direct effect on reducing debt burdens on the two companies, and may also slash operating costs in the long run, according to the report issuer.
