Wednesday, 24 January 2018 01:33 GMT

Oman to sell 19 percent stake in Omantel

(MENAFN) Oman is planning a sale of a 19 percent stake in telecom company Omantel next week, Arabian Business reported

Secretary-General for Taxation at the Ministry of Finance said that the government is to reduce its share in Omantel from 70 percent to 51 percent

Half of the shares will be sold in a first phase next week, while the rest to be offered to Omani retail investors at the end of March

The telco's market capitalization is around USD3.05 billion, making a 19 percent stake worth around USD579 million

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