End of last year, Omantel completed the acquisition of 21.9% shareholding in Mobile Telecommunications Company (Zain) Kuwait.   As per IFRS 10: Consolidated financial statements,  Zain group is treated as a subsidiary of Omantel and its results need to be consolidated with Omantel. 

 

Zain group is currently completing their Consolidated results which involve the consolidation of their results across 9 countries. These results then needs to be consolidated with the results of Omantel which is significant and material to the Group results.   

 

Pending the consolidation, Omantel is currently not in a position to disclose the initial unaudited results of the Group.

 

Omantel will disclose the Audited results of the Group within the statutory time period specified under the Commercial Companies Law.