The Capital Markets Authority (CMA) of Oman has
proposed new legislation governing takeovers of publicly listed
While market participants have largely commended
its comprehensive scope, some believe the law is not entirely
in keeping with the operations of local capital markets.
"The point is, the reality on the ground
doesn’t match the regulation. Historically there
just haven’t been many takeovers in Oman," said
Ardeshir Patel, partner at Al Busaidy Mansoor Jamal & Co.
This is because regulatory consent is needed in an
acquisition of more than 25% of a company’s
shares, and that approval can be hard to come by.
"Given that there aren’t many listed companies
on the bourse to start with, the CMA...