Omantel’s Kuwait subsidiary gets $1.3bn offer for Zain Sudan

Omantel has announced that its subsidiary, Zain Telecommunications Kuwait, has received a non-binding offer from Invictus Holding Limited (a subsidiary of Dal Group) for the acquisition of 100 per cent of Zain Sudan and Kuwait Sudanese Holdings for a consideration of $1.3 billion.

“The board of directors has agreed to proceed with the due diligence process to provide the initial approval,” majority government-owned Omantel said in a filing to the Capital Market Authority, noting that the offer does not include Zain South Sudan.