November 12, 2017 / 8:17 AM / in 8 days

BRIEF-Omantel wins bid for acquisition of 522 mln shares of Zain Group

Nov 12 (Reuters) - OMAN TELECOMMUNICATIONS COMPANY

* WINS BID FOR ACQUISITION OF 521.975 MILLION SHARES OF ZAIN GROUP AT PRICE OF 0.781 DINAR PER SHARE‍​

* SAYS HAS FINANCED DEAL WITH COMBINATION OF TERM AND BRIDGE LOAN FACILITIES, BRIDGE LOAN FACILITY WILL BE TAKEN OUT BY LONG-TERM CAPITAL MARKETS INSTRUMENTS

* SAYS WHEN SHARE PURCHASE IS SETTLED ON NOV 15, OMANTEL WILL OWN, DIRECTLY AND INDIRECTLY, ABOUT 21.9 PERCENT OF TOTAL ISSUED, OUTSTANDING SHARES IN ZAIN GROUP Source: (bit.ly/2yvGFgh) Further company coverage:

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