MUSCAT: Omantel said its subsidiary company Zain Telecommunications Kuwait has received a “non-binding offer” of $1.3 billion from Invictus Holding Limited to acquire 100 per cent share stake in Zain Sudan and Kuwait Sudanese Holdings.
In a disclosure to Muscat Stock Exchange (MSX), Omantel said the board of directors has agreed to proceed with the deal.
“The board of directors has agreed to proceed with the due diligence process to provide the initial approval. However, this offer does not include Zain South Sudan . All material updates will be disclosed in due course,” Omantel added.
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