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Omantel share sale to start this week

: Saturday, February 22 - 2014 @ 00:16

The Omani finance ministry has said the sale of a 19% stake in the government’s former telecoms monopoly, Omantel, is set to start this week, Reuters has reported. The government will offload 142.5 million Omantel shares, reducing its holding to 51% from 70%, the ministry said. Half of these shares will be sold to Omani individuals and institutional investors in a first phase starting this week, while the second and final phase to sell the remaining shares will be open to Omani retail investors and will start at the end of March, it added.

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Saturday, February 22- 2014 @ 0:16 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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