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Omantel share sale to start this week

February 22, 2014 12:16 am

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.