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English news

12-Mar-2017

WotrldCall disposal process by Omantel still ongoing; acquirer to assume certain liabilities of WorldCall

The disposal process of WorldCall Telecom Limited (WTL) by Omantel [OTL.OM] to WordlCall Services Limited and Ferret Consulting is still ongoing, according to a company disclosure. Omantel (56.8% owner of WTL) had accepted an offer back in November 2016, to sell its ordinary and convertible preference shares in WTL to WorldCall Services Ltd. and Ferret Consulting for assuming certain liabilities of WTL. Omantel has written off its entire investment in WTL, and the impact has been reflected in the accounts of FY15 and FY16. Therefore, the disposal of the shares will not have a material impact on the financials of Omantel, the company clarified.

  

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