(MENAFN) As part of its massive expansion strategy, Oman Telecommunications (Omantel) plans to buy a 12 percent stake in Kuwaiti giant Telecoms Company Zain.
Omantel had signed a non-binding letter of intent with Kuwait-based Al Khair, an investment vehicle of Kuwait's Al Kharafi merchant family, to purchase its 12 per cent holding.
SICO Research Analyst Nishit Lakhotia said "It would be interesting to watch how much (leverage) Omantel could have over Zain as they are buying the stake from the company's most influential shareholder".
He added, "This could mean they can get some level of management".
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