Omantel ends talks with potential buyer of its WorldCall stake

August 4, 2016 3:42 pm


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 percent stake in the diversified telecom operator in 2008. The $193 million 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.

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