Finance ministry invites interest in Omantel

07 July 2008
Oman’s Ministry of Finance has invited expressions of interest from international telecoms companies interested in acquiring a 25 per cent stake in Omantel, the country’s largest mobile phone operator.

The UAE-based operator Etisalat said in October that it would be interested in acquiring a strategic stake in the company (MEED 12:10:07).

Etisalat’s largest rivals, Saudi Telecom, Kuwait’s Zain and Qatar’s Qtel, have all made acquisitions in recent months and have said that they want to expand into more markets.

Omantel has already floated 30 per cent of its capital on the Muscat Securities Market.

The sale of the latest 25 per cent stake is due to be concluded later this year.

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