THE FORMATION OF THE LEADING TOWERCO IN MENA - Market share, scale benefits and risk protection

Sep 14, 2026

Uploaded by Ophelia

The document outlines how “NEW TASC” is positioned to become the leading tower operator in the MENA region, backed by scale benefits, operational expertise, and procurement standardization. It presents market share and growth drivers, including additional tenancies, VAS upsides, and simplified tower economics. It also details operational protection through SLAs and new site delivery approach, covering strategic site protection, inflation risk management via CPI caps and collars, and currency derisking through local-currency fees and protections.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages15

Reading Time38 min

AccessFree to download

Market share in MENA

“NEW TASC” tower market share

Scale benefits

Functional expertise and standardization

Partnerships and financing advantages

Operational protection

SLA and new site delivery

Strategic interest protection

Inflation and currency protections

CPI caps & collars

Currency derisking in local currency

Synergies and growth mechanisms

Consolidation and tenancy growth benefits

Future value participation

Simplified towerco economics

Annual cost per tower and operating leverage

Financing and investment predictability

Efficient financing structures

Strategic importance to Ooredoo & Zain

Passive infrastructure provider and anchor tenants

Data demand and tenancy opportunities

Data usage per SIM and growth markets

THE FORMATION OF THE LEADING TOWERCO IN MENA Leading tower operator in MENA “NEW TASC” will be the leading tower operator in the MENA region MARKET SHARE IN MENA [ \# TOWERS SHARE OF MENA REGION] Q4-19A SCALE BENEFITS Q4-20A Q4-21A Q4-22A Q4-23E “NEW TASC” Tower Market Share [29k towers] 10.0% • Operating Scale for Functional Expertise, Standardization & Procurement, Energy Savings Initiatives etc. • Expertise for Regional Operator & Regulator Relationships as opposed to Single Country Operators • Financing Benefits based on Scale and Strong Anchor Shareholders Solid partnership for Ooredoo Robust partnership with “NEW TASC” sustainably protects Ooredoo’s operations & economics OPERATONAL PROTECTION SOLIDSLAs & APPROACH TO NEW SITE DELIVERY PROTECTION OF STRATEGIC INTEREST STRATEGIC SITES CONCEPT FOR OOREDOO INFLATION PROTECTION CPI CAPS & COLLARS PARTIAL FLOW THROUGH OF CPI ON RENT ESCALATORS CURRENCY DERISKING SERVICE & RENT FEES PAID IN LOCAL CURRENCY SYNERGIES PARTICIPATION IN CONSOLIDATION SYNERGIES PARTICIPATION IN BENEFITS FROM TENANCY GROWTH MECHANISM IN PLACE FOR BENEFITING FROM TENANCY UPLIFTS PARTICIPATION IN FUTURE VALUE APPRECIATION OF “NEW TASC” OOREDOO WILL REMAIN A SUBSTANTIAL SHAREHOLDER IN “NEW TASC” WIN-WIN Business model Additional tenancies will drive growth in profits. Tower carve out & independent management facilitates a non-yielding asset to become a yielding asset SIMPLIFIED & ILLUSTRATIVE TOWERCO ECONOMICS Annual Cost per Tower $40k $30k $20k $10k Increase Tenancies/ Tower & VAS Fixed Cost Variable Cost ~~ ~~ Total Cost Revenues Operating Profits Operating Efficiency Renegotiate Rentals 1 2 3 Tenancies/ Tower STRONG OPERATING LEVERAGE TYPICAL VALUE LEVERS Rationalization of Land Leases & Rentals Cost & Investment Optimization Through • Pooling of Demand (e.g. Maintenance) • Standardization of Site Builds/Configuration • Operational focus on areas like Fuel Pilferage, Generator Replacements or General Energy Savings ( 􀃖 ESG Impact) Onboarding of New Tenants • New Site Demand driven by • Mobile Data Growth • Drive for Good Network Experience • Coverage Augmentation • Consolidation of Overlapping Site Portfolios • Long-Term: exploring new tenancy categories Efficient Financing Structures • Using more debt leverage in light of different business model to improve return profile Predictable & attractive economics The new tower company will benefit from industry trends and high reliability on financials Sources: 1) Ericsson Mobile Data Traffic Outlook, July 2023 Continued Surge in Mobile Data Demand Given Dominant Role Of Wireless Networks for Mobile & Stationary Broadband Connectivity in MENA MENA Region: GB/Month per User at 2.3x in ‘28 vs. ‘231) Opportunities from 5G Network Transition Available In Several Footprints with No 5G Launch Yet or Only Recent Launch (Iraq, Algeria, Tunisia, Jordan) Upsides From Additional Revenues (Lifts In Tenancy)–“New TASC” will be operated as Independent TowerCo Offering Colocations In Markets With No Or Only Limited Offers So Far Reliable Investment-Grade Tenants – Solid Anchor Tenants That are Anchor Shareholders of “New TASC” and Have Long Run Tenancy Contracts & Substantial BTS Commitments Operating Scale – “New TASC” will be the Largest CrossCountry Tower Platform Focused in the MENA Region Solid Demand for New Sites & Tenancies from Operators PREDICTABILITY for Operators Two anchor shareholders “NEW TASC” will have the support of two strong shareholders but will be managed by an independent management team Ownership: 49.3% Shareholders: Qatar Investment Authority Retirement & Pension Fund Qatar Ratings: A/A-11) (Stable Outlook), A22) (Stable Outlook) Ownership: 49.3% Shareholders: Kuwait Investment Authority Omantel Overview: Ooredoo is a leading operator in the MENA region serving its customers i

FAQs

What is “NEW TASC” intended to achieve in the MENA region?

“NEW TASC” is presented as the leading tower operator in MENA, using scale, standardization, and partnerships to capture tenancy growth and improve predictability for operators.

How does the document explain scale benefits and operational advantages?

It highlights operating scale for functional expertise, standardization and procurement, energy savings initiatives, stronger relationships with regional regulators, and financing benefits supported by strong anchor shareholders.

What risk protection measures are described for strategic operations?

The document discusses operational protection via SLAs and new site delivery, strategic site protection, inflation protection through CPI caps and collars with partial CPI flow-through on rent escalators, and currency derisking by paying service and rent fees in local currency.

Sep 14, 2026

Uploaded by Ophelia