PIF to buy controlling stake in Zain telecom towers for $484m

Zain will own the remaining 20 percent. (Shutterstock)
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Updated 07 September 2021
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PIF to buy controlling stake in Zain telecom towers for $484m

  • The offers are valued at SR3.026 billion ($807 million) for 8,069 towers

DUBAI: Telecommunications company Zain KSA has approved offers from three organizations, including the Public Investment Fund, to acquire 80 percent in its tower infrastructure.

The offers are valued at SR3.026 billion ($807 million) for 8,069 towers, the company said in a bourse filing.

The sovereign wealth fund will own 60 percent of the infrastructure under the deal valued at $484 million, while Prince Saud bin Fahad bin Abdulaziz and Sultan Holding Co. will each own 10 percent.

Zain will own the remaining 20 percent, it said.

The deal indicates the sale of its passive, physical towers infrastructure, and retain all other wireless communication antennas, software, and technology.


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.