The award was presented to Omantel for its acquisition of 22 per cent stake in Zain Group for a total value of US$2.2bn.
The transaction consisted of the acquisition of a 9.8 per cent shareholding through treasury shares in August followed by a 12.1 per cent stake in November.
Omantel is now the second largest shareholder in Zain Group. The new combined group becomes the third largest telecom group in the Middle East and North Africa (MENA) region, with 52mn customers.
“We are very proud to have been recognised by TMT Finance and experts across the sector in this way. The M&A Telecom Deal of the Year Award is a reflection of the vision we have set for Omantel and the dedication and hard work of the entire team.
This award marks the biggest inbound and outbound deal in Oman’s history and underlines Omantel’s leading position in the sector and our integral role in driving economic advances and business development in Oman and the region,” said Talal al Mamari, CEO of Omantel.
This year, the TMT M&A Awards were held during the TMT Finance World Congress 2017, which convened leading telecom infrastructure operators, private equity investors and investment bankers in London to share strategic insights related to investments and explore partnership opportunities.
The congress also convened key speakers, such as C-level executives from the primary active telecom operators, investment banks, investors and advisers in the media and telecoms sector.