Zain Group to acquire a 70% stake in the Kuwait operations of IHS Towers for $161m.

Zain Group, a Kuwaiti mobile telecommunications company, agreed to acquire a 70% stake in the Kuwait operations of IHS Towers, one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, for $161m. "Today’s announcement forms part of our wider ambition to drive shareholder value and enhance our balance sheet. The transfer of IHS Kuwait to Zain, the largest mobile network operator in Kuwait, not only highlights the significant value contained within our portfolio but will also allow us to further reduce our net leverage," Sam Darwish, IHS Towers Chairman and CEO.