Omantel is likely to have to pay at least $160 million for a majority stake in Pakistani mobile phone operator Worldcall.
Omantel is likely to have to pay at least $160 million for a majority stake in Pakistani mobile phone operator Worldcall.The board of Oman's incumbent telecoms company announced on 26 September that it would bid for Worldcall, but declined to say how much it would offer.Worldcall, which is one of six licence holders in Pakistan, had gross profits of $31.8 million last year, on sales of $70.3 million.The average takeover price for telecoms companies in the region is 10 times gross profits, according to UAE-based Gulf Capital Group.On that basis, Worldcall would be valued at $318 million and Omantel would have to offer at least $160 million to acquire more than 50 per cent of the business. You might also like...
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