Oman to sell 19% stake in Omantel

February 5, 2014 1:21 am

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.