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Thndr Claps » Saudi Claps » Telecommunications☎ » Zain KSA shares up 3.26% after towers deal 🗼

Zain KSA shares up 3.26% after towers deal 🗼

by Omar El Shorafa
January 9, 2023

The Clap
The infrastructure of Zain KSA’s towers was sold to Golden Lattice, which is 60% owned by the Public Investment Fund, for SAR 3.02bn.

What
The reasons for selling the towers are to maximize the return on the company’s shareholders, by reducing reliance on capital expenditures.

So What
Zain KSA’s shares were up 3.26% in Monday’s session after the sale was announced.

Now What
The proceeds from the sale will be used to maximize the return to its shareholders, through a combination of reducing financing burdens and financing its investments and core business.

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