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%
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.
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.