Telecom Tower Infrastructure Accepts Acquisition Offer from Pakistan’s TPL RMC

The parent company of Telecom Tower Infrastructure Company (TTIC) has conditionally accepted the offer of a consortium comprising Pakistan’s TPL REIT Management Company Limited (TPL RMC) in partnership with TASC Towers (TASC), a UAE-based mobile telecom tower operator, for the acquisition of TTIC. TTIC owns and manages around 10,500 operating towers in Pakistan.

Telecom Tower Infrastructure accepts acquisition offer from Pakistan’s TPL RMC

TPL Properties, the parent company of TPL RMC, shared, “We are pleased to announce that the parent of one of the largest telecom tower operators in Pakistan, has conditionally accepted the offer, subject to the signing of definitive agreements, all necessary corporate approvals and receipt of relevant regulatory approvals, made by our subsidiary TPL REIT Management Company Limited in partnership with TASC Towers for the acquisition of their subsidiary (Telecom Tower Infrastructure Company) which owns and manages more than 10,500 telecom towers in Pakistan,”.

Check Also: Telenor Declines Closing Operations in Pakistan

Last month, TPL RMC along with TASC Towers submitted a firm bid for the acquisition of TTIC. TPL RMC entered into a strategic partnership with TASC Towers in September for the acquisition of a telecom tower infrastructure company.

Furthermore, the acquisition of towers could become Pakistan’s largest deal in more than a decade. TPL REIT is the first and largest Shariah-compliant Development Impact REIT Fund in Pakistan. Its eventual size is envisaged at Rs80 billion, which will be raised from local and international investors.

Meanwhile, TASC, headquartered in the UAE, is a leading global operator of mobile telecom towers. It has deployed and is managing over 14,000 towers in multiple geographies.

See Also: Emirati Firm in Talks to buy Telenor Pakistan- A Major Dent to Telenor’s Asian Dreams

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Onsa Mustafa

Onsa is a Software Engineer and a tech blogger who focuses on providing the latest information regarding the innovations happening in the IT world. She likes reading, photography, travelling and exploring nature.

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