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07-Aug-2016

Omantel discontinues discussion to sell Worldcall stake

Oman Telecommunications Company (Omantel) said that its board has decided to end a discussion to sell its stake in Pakistan-based Worldcall Telecom Limited. "We would like to announce that the deal could not be reached favourably," Omantel said in a disclosure statement posted on MSM website. Omantel said that a Pakistani investor was earlier interested in acquiring Omantel 's stake in Worldcall Telecom Limited and accordingly, there was an approval to conduct a due diligence study. (Times of Oman) Omantel: OMR1.65 as of 4 August 2016, Rating: Neutral, FV: OMR1.68 per share, MCap: USD3,247 million, OTEL OM / OTL.OM

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