Zain KSA [7030.SE] announced that it cancelled plans to sell its tower infrastructure to IHS Holding (IHS) after The Communications and Information Technology Commission (CITC) indicated that IHS did not meet certain regulatory requirements. Zain KSA had signed an agreement in March with IHS for the sale and leaseback of c8,100 towers and the building of an additional 1,500 towers for SAR2.52bn. (Company disclosure)
Zain KSA: SAR12.64 as of 23 Jun. 2019, Rating: Buy, TP: 11.40/share, MCap: USD1,967mn, ZAINKSA AB/7030.SE
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