Business | Telecoms

Omantel aims to sell 25% stake to investor

Oman Telecommunications (Omantel) expects to sell a 25-per cent stake to a long-term investor by the end of year, the company's chief executive officer said.

  • Reuters
  • Published: 00:08 May 22, 2008
  • Gulf News

Dubai: Oman Telecommunications (Omantel) expects to sell a 25-per cent stake to a long-term investor by the end of year, the company's chief executive officer said.

"We've appointed Citigroup as financial adviser for the sale of a 25 per cent stake in Omantel," Mohammad Al Wohaibi told Reuters on the sidelines of a conference in Dubai.

The company has already started the process and expects to complete the sale by year-end, he said, declining to name companies that had shown interest.

Emirates Telecommunications has previously said it would be interested.

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