OMANTEL OFFERS TO PURCHASE AN ADDITIONAL 12.1% OF ZAIN GROUP
- Omantel signs SPA with Al Khair National Company
- Omantel will become second largest shareholder with 21.9%
Oct 26, 2017
Oman Telecommunications S.A.O.G. (‘Omantel’ or the ‘Company’), the first and leading integrated telecommunications services provider in Oman and Al Khair National for Stocks & Real Estate Company W.L.L., Kuwaiti British Readymix Company W.L.L., and Gulf National Holding Company K.S.C.C. (collectively the ‘Sellers’) announce they have signed a share purchase agreement (‘SPA’) to sell 521,975,416 million ordinary shares, or 12.1% of the total fully paid and issued share capital, in Mobile Telecommunications Company KSCP (‘Zain’) to Omantel for a total cash consideration of US$1.35 billion (OMR520 million), at an offer price of KWD 0.781 per share.