Oman to sell 19% stake in Omantel
05/02/2014 1:21 am EDT

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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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