Zain Group [ZAIN.KW] is expecting to sell part or all of 7,776 mobile towers owned by its Saudi Arabian subsidiary, Zain KSA [7030.SE], for more than USD500mn in 1H17, Reuters quoted Zain Group’s CEO, Scott Gegenheimer, as saying. He added that the company has shortlisted two bidders, the transaction being subject to regulatory approvals. Zain KSA plans to use the proceeds of the sale to pay down its debt and for data-focused investments, Gegenheimer said, adding that Zain KSA could probably turn profitable in 2018. He mentioned that wide-ranging changes in Saudi Arabia, including cuts to public sector wages, have been challenging for the operator. Zain KSA will also likely start introducing new integrated services in 1H17 after obtaining a unified licence. (Reuters)   Zain KSA: SAR8.12 as of 10 November 2016, Rating: Neutral, FV: SAR6.56 per share, MCap: USD1,264mn, ZAINKSA AB / 7030.SE Zain Group: KWD0.41 as of 10 November 2016, Rating: Buy, FV: KWD0.49 per share, MCap: USD5,836mn, ZAIN KK / ZAIN.KW