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Oman to sell 19% stake in Omantel

: Wednesday, February 05 - 2014 @ 01:21

The Omani government is planning to sell its 19% stake in Oman Telecoms (Omantel), Times of Oman has reported. The sale, which will reduce government ownership to 51% from 70% now, is to be conducted in two phases; a private placement of shares to institutional and high-net worth individuals (HNWIs) and an initial public offering (IPO) for Omani nationals. The share offer will be completed within eight to ten weeks, the report said.

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Wednesday, February 5- 2014 @ 1:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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