Omantel ends talks with potential buyer of its WorldCall stake
Now Reading
Omantel ends talks with potential buyer of its WorldCall stake

Omantel ends talks with potential buyer of its WorldCall stake

Omantel took a 56.8 per cent stake in the Pakistani telecom operator in 2008

Avatar

Oman Telecommunications (Omantel) said on Thursday it had ended discussions with a Pakistan investor interested in buying Omantel’s shares in Pakistan’s WorldCall Telecom Ltd.

Omantel took a 56.8 per cent stake in the diversified telecom operator in 2008. The $193m deal marked its biggest foreign investment at the time.

The statement did not name the potential acquirer or the value of the sale but said that a favourable deal could not be reached so the discussions had ended.

Omantel said in June its board received a non-binding offer for its controlling stake in WorldCall and that it had granted the potential investor approval to carry out due diligence.


© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top