Omantel to sell its 56.8% stake and preference shares in WorlCall Telecom
Omantel [OTL.OM] will sell its 56.8% stake in its Pakistani subsidiary, WorldCall Telecom Ltd. (WTL) to Allied Supplies and Services Ltd. (based in Pakistan), according to a Pakistan Stock Exchange press release. This represents 489mn ordinary voting shares of WTL. The company will also sell its USD denominated non-voting 200,000 preference shares to Dunya Technologies Ltd. (based in UAE). Omantel had fully impaired WTL in 4Q15 and incurred a OMR72mn loss. (WTL disclosure) Omantel: OMR1.61 as of 23 June 2016, Rating: Neutral, FV: OMR1.68 per share, MCap: USD3,168 million, OTEL OM / OTL.OM
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.