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AMJ has advised Integrated Telecommunications Oman (TeO) on its US$25mn acquisition of all shares in Majan Telecommunications (Renna Mobile).
TeO is Oman’s first private Class I licensee international gateway operator providing mobile and fixed services under the operating brand Telecom Oman. Renna is Oman’s first Mobile Virtual Network Operator (MVNO) with more than half a million subscribers in Oman. The transaction makes Renna a subsidiary of TeO.

This strategic acquisition of Renna’s data and voice services will enable TeO to expand its operations and capabilities and fulfil its goal of providing integrated telecommunications services in the Sultanate.The acquisition was conditional on approval by the Telecommunications Regulatory Authority. As part of the acquisition process, AMJ was required to advise extensively on the law relating to the waiver of pre-emption rights by minority shareholders.

AMJ’s team was led by Mansoor Malik, Managing Partner, supported by Asad Qayyum, Senior Associate. Commenting on the transaction, Malik said: “This is a significant transaction in the development of Oman’s telecommunications sector, and for TeO. We are delighted to have played our part in helping TeO) to complete this transaction successfully, and look forward to continuing to support the business in the future”.