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Oman to sell 19 percent of Omantel  Join our daily free Newsletter

MENAFN - 06/02/2014

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(MENAFN) Omani media reported that the sultanate is intending to sell 19 percent of its former telecommunications monopoly Omantel in two phases, according to Gulf Daily News.

The first phase of the sale process will be offered for wealthy local investors, and scheduled to be finished next month. The second will be reserved for all Omanis.

Investors buying over USD5.2 million will be included in the private replacement of first phase of the sale.

The government plans to sell 142.5 million total shares in Omantel. Foreign investors will not be able to take part in either phase.

 






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