Omantel waits for Zain Group results before revealing own figures

Omantel said that the company is currently not in a position to disclose the initial unaudited financial results, as the Zain Group is yet to announce its financial results. The Zain Group is 21.9 percent owned by Omantel and its results need to be consolidated with the Omani telecom firm as per IFRS ten standards, said Omantel in a disclosure posted on the MSM website. 

Zain group is currently completing its consolidated results, which involve the consolidation of its results in nine countries. These results then need to be consolidated with the results of Omantel, which is significant and material to the group results. Omantel said it will disclose the audited results of the group within the statutory time period specified under the Commercial Companies Law.