FINANCIAL NEWS

Omantel purchases 10pct of Kuwait’s Zain Group

26 Aug 2017

(MENAFN) Oman Telecom (Omantel) finished its previously proclaimed buy of almost 10 percent of Kuwait’s Zain Group, which had said it would be performed through a public auction of treasury shares.

Accordingly, proceeds from the transaction would be utilized in order to reduce debt and enhance its operations.

Furthermore, Zain works in eight nations in the Mideast, including Saudi Arabia, Iraq and Jordan.

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MENAFN2608201700450000ID1095773622

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