“The agreement would result in unlocking cash invested in the fixed assets of the company, and this liquidity may be used to pay down debt which would reduce financial charges.”

–Muhammad Faisal Potrik, head of research at Riyad Capital, in comments to Bloomberg about Saudi Arabia’s PIF reportedly making a $484 million bid for a controlling stake in Zain’s mobile phone towers. There would be a corresponding rise in annual lease payments for these towers, but the net impact is expected to be “positive” for Zain Saudi, he said. [Bloomberg]