Omantel to acquire 9.84% Zain Group stake

10 Aug 2017

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, is set to acquire 9.84% of Zain Group for USD846.1 million, after it agreed to buy 425.7 million Zain treasury shares in cash at a price of KWD0.60 (USD1.99) per share, subject to regulatory approval, the company said in a statement. Credit Suisse is acting as the exclusive financial adviser and Freshfields Bruckhaus Deringer LLP as legal adviser to Omantel on the deal. The investment is part of Omantel’s strategy to diversify its exposure, the Omani firm said, adding that the company aims to ‘position ourselves as a leading digital service provider’. Going forward, the duo will look to collaborate on the wholesale telecoms business, operations and networks, and commercial activities.

The share purchase was announced days before the Omani Sultanate is to shortlist qualified applicants for the country’s third mobile licence, expected to take place on 14 August, with the winner scheduled to be announced on 4 September. Zain Saudi Arabia, Saudi Telecom Company (STC), UAE’s Etisalat and Sudatel Telecom Group have all submitted comprehensive technical plans and financial offers for the concession.

Kuwait, Oman,Oman Telecommunications Company (Omantel), Zain Group,



Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.