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DUBAI: Oman Telecommunications (Omantel) said on Thursday it had ended discussions with a Pakistani investor interested in buying Omantel’s shares in Pakistan’s WorldCall Telecom Ltd.
Omantel took a 56.8 per cent 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.
Published in Dawn, August 5th, 2016
