OmanTel to sign $2.2bn loan next month

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By Bianca Boorer
28 Nov 2017

Oman Telecommunications is expected to sign a $2.2bn loan in the coming weeks to finance its acquisition of a 21.9% stake in Kuwaiti telecoms company Zain Group.

The group initially announced it would buy a 9.84% stake in Zain group on August 10 for $846m (OR325.6m). Two months later the company offered to purchase another 12.5% of Zain for $1.35bn (OR520m), taking the total transaction value up to $2.19bn for the 21.9% stake.

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