Muscat, 04 July 2019: Dentons, the world's largest law firm, has advised Integrated Telecommunications Oman (TeO) on the sale of 40% of the share capital in its subsidiary Renna Mobile (Majan Telecommunication LLC) to Omantel. Dentons advised on the share purchase agreement and on the shareholder agreement between the parties.
Renna Mobile was established in 2007 as one of the first mobile virtual network operators in Oman.
Nick Simpson, Dentons' Oman managing partner who led on the deal, said, "This is a significant transaction for the telecoms market in the Sultanate which further strengthens the collaboration between Omantel and Renna Mobile whilst also enhancing Renna’s service offering capabilities."
Alongside Nick Simpson, senior legal consultant Simon Topping and senior associate Harry Singh also advised on the transaction.
Dentons' Tier 1 corporate and commercial team in Oman has 38 years' experience of advising on a range of landmark transactions, and Dentons was recently named Oman Law Firm of the Year by The Oath for 2018.