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

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