OSN moves to take Anghami private
July 2, 2026 12.39 Europe/London By Julian Clover


OSN has launched a bid to acquire the remaining shares in music streaming platform Anghami, in a move that would take the Middle Eastern streaming service private and end its Nasdaq listing.

The pay-TV and streaming operator, which already owns around 67% of Anghami’s outstanding shares, has submitted a preliminary non-binding proposal to acquire the remaining stock for $3.39 per share in cash. OSN said it intends to fund the acquisition through equity or other financing provided by its shareholders or affiliated entities and that the transaction will not be subject to a financing condition.

Anghami’s board has responded by appointing three new independent directors and establishing a Special Committee to evaluate the proposal on behalf of minority shareholders. The committee, chaired by investment banker Nathan Scott Fine and including Guergui Saykov Stoyanov and Chiara Marcati, has been given authority to negotiate the terms of the offer, consider strategic alternatives and appoint independent legal and financial advisers.

The company stressed that the proposal remains preliminary and non-binding, and that there is no certainty a definitive agreement will be reached or that any transaction will be completed.

The move follows OSN’s acquisition of a controlling stake in Anghami in 2024 as part of its strategy to expand beyond premium television into music streaming and digital entertainment. Taking Anghami private would simplify the group’s ownership structure and remove the reporting obligations associated with its Nasdaq listing while allowing closer integration of the two businesses.

If completed, the transaction would mark another step in the consolidation of the Middle East’s streaming market, where regional operators are increasingly seeking greater scale to compete with international platforms.