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BRIEF-Omantel to finance Zain shares acquisition through bridge loan
October 16, 2017 / 5:31 AM / a month ago

BRIEF-Omantel to finance Zain shares acquisition through bridge loan

Oct 16 (Reuters) - Oman Telecommunications Company Saog

* UPDATES ON NON-BINDING LETTER OF INTENT (LOI) TO ACQUIRE 12 PERCENT OF ZAIN GROUP SHARES

* AL KHAIR IS STILL EVALUATING OFFER RECEIVED FROM OMANTEL

* IF OFFER IS RECEIVED FAVORABLY, WILL BE SUBJECT TO PUBLIC AUCTIONING PROCESS WHEREBY INTERESTED PARTIES CAN COMPETE TO ACQUIRE INTENDED STAKE OF 12 PERCENT

* IF AUCTIONING PROCESS OF 12 PERCENT ZAIN SHARES CONCLUDED IN FAVOR OF CO, ACQUISITION WILL BE FINANCED THROUGH BRIDGE LOAN

* BRIDGE LOAN TO FINANCE ZAIN SHARES' ACQUISITION WILL BE REPLACED BY LONG- TERM LOAN FACILITY OR CAPITAL MARKETS INSTRUMENTS Source: (bit.ly/2gHha4I) Further company coverage:

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