MUSCAT – In a disclosure to the Muscat Stock Exchange dated July 1, 2026, Omantel said Zain received notification from Syria’s Information Technology authorities confirming the award after technical and financial evaluations, with Zain securing the licence through its compliant and competitive bid valued at $747 million.
The new licence will establish a telecommunications operating entity in Syria for an initial 25-year period, comprising 20 years with an option for a five-year extension. The entity will be owned 75 percent by Zain Group and 25 per cent by a Syrian government entity.
The disclosure mentioned that the award represents a compelling strategic opportunity for Zain Group, combining the operation of an existing network and subscriber base of 6.3 million subscribers (as an initial starting point for operations) with the execution of a transformative investment program to build a state-of-the-art network aligned with the highest international standards. It further reinforces the Group’s presence in high-growth markets and strengthens its position as a leading regional TechCo.
The award expands Zain Group’s presence in high-growth markets and is expected to support future revenue and EBITDA growth. However, Omantel said the financial impact of the licence cannot be determined at this stage.