Saudi Telecom-backed TAWAL completed the acquisition of tower assets from United Group for $1.3bn.

Saudi Telecom-backed TAWAL, a digital enabler of telecommunications services, completed the acquisition of tower assets from United Group, an alternative telecom provider, for $1.3bn. “We are delighted to have successfully crystalised the value of our tower assets in a deal that enables us to delever and navigate global macro-economic pressures. This will support continued investment in our portfolio companies to ensure they remain competitive in their respective markets. We are delighted to have found a strong partner in TAWAL and will look for further opportunities to work with them as they expand their footprint in the European market,” Victoriya Boklag, United Group CEO.