GTL Infrastructure and Quippo are among those shortlisted to buy a stake in Saudi Telecom's tower business and final offers are likely to be made within the next few weeks. Saudi Telecom's tower business is said to be valued at between $1 billion and $1.5 billion, and sources said it was not yet decided whether the carrier was selling a 49 percent or larger stake.
State-controlled Saudi Telecom has about 10,000 telecom towers, said the sources, who declined to be named as they are not authorized to speak to the media.
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