Omantel increases profits by 29 per cent

03 November 2008
Omantel, the state-owned mobile phone and fixed-line operator, has increased net profits by 29 per cent.

The company's net profits in the July to September quarter of 2008 year were OR106.9m ($278m), up from OR82.6m in the same period in 2007.

"The company's subscriber base is growing, demonstrating the loyalty of customers towards the services that it provides, especially in light of competition in the mobile services," says Al-Wohaibi.

Muscat is in the process of selling 25 per cent of Omantel; with Saudi Telecom and Zain, a Kuwaiti operator; among the bidders.

The Finance Ministry, which is running the auction, said the winner would be announced before the end of October, but the deadline passed without an announcement.

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