Omantel subsidiary secures favourable court verdict
Published: 02:02 PM,Feb 22,2023 | EDITED : 07:02 PM,Feb 22,2023
MUSCAT: In a filing to Muscat Stock Exchange (MSX) yesterday, integrated telecom services provider Omantel announce that its subsidiary, Zain Group, made a disclosure about a judicial verdict issued in its favour on February 21, 2023.
The disclosure stated that the appeal court in the state of Kuwait issued a verdict upholding the ruling of the Court of First Instance in the case filed by Zain Kuwait claiming a refund of the “amounts paid for the number range”.
The disclosure made by Zain Group highlighted that the total awarded amount is KD 24.680 million.
“It is expected that the awarded amount will have positive impact on the financials of Zain Group and such impact will be determined later, Omantel added in its filing.
The disclosure stated that the appeal court in the state of Kuwait issued a verdict upholding the ruling of the Court of First Instance in the case filed by Zain Kuwait claiming a refund of the “amounts paid for the number range”.
The disclosure made by Zain Group highlighted that the total awarded amount is KD 24.680 million.
“It is expected that the awarded amount will have positive impact on the financials of Zain Group and such impact will be determined later, Omantel added in its filing.