Omantel Wins M&A Emerging Markets Telecom Deal of the Year
Oman Telecommunications S.A.O.G. was awarded the TMT M&A Emerging Markets Telecom Deal of the Year for 2017 at the TMT Finance M&A Awards held in London on Nov. 29.
The award was presented to Omantel for their 22 percent acquisition of a stake in Zain Group for a total value of $2.2 billion. The transaction consisted of the acquisition of a 9.8 percent shareholding through treasury shares in August followed by a 12.1 percent stake in November. Omantel is now the second largest shareholder in Zain Group. The new combined group becomes the third largest telecom group in the MENA region, with 52 million customers.
“We are very proud to have been recognized by TMT Finance and experts across the sector in this way. The M&A Telecom Deal of the Year award is a reflection of the vision we have set for Omantel and the dedication and hard work of the entire team. This award marks the biggest inbound and outbound deal in Oman’s history and underlines Omantel’s leading position in the sector and our integral role in driving economic advances and business development in Oman and the region,” said Talal Said Al-Mamari, chief executive officer at Omantel.
- Omantel Buys 10 Percent Stake In Zain Group For $846 Million
- Omantel Nominates New Board Members To Zain Group
This year, the TMT Finance M&A awards were held during the TMT Finance World Congress 2017, which convened leading telecom infrastructure operators, private equity investors and investment bankers in London to share strategic insights related to investments and explore partnership opportunities. The congress also convened key speakers, such as C-level executives from the primary active telecom operators, investment banks, investors and advisers in the technology, media and telecom sectors.
Source: Arab News
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