| 18 Aug 2008 |
|
Oman's Ministry of Finance Announces Results of Pre-qualification Process in 25% Omantel Sale
- Text size
Muscat, 18 August 2008 Oman's Ministry of FinanceMinistry of Finance
today announced the results of the pre-qualification process with regards to the sale of a 25% stake in OmantelOmantel to a potential strategic partner.The Ministry's advisors have expressed a high degree of satisfaction with the outcome of the pre-qualification process which has evoked serious and strong interest from highly credible and reputed international and regional, telecom operators.
Following an in-depth evaluation of the submissions of expressions of interest, the Ministry of FinanceMinistry of Finance has confirmed that 8 (eight) telecom operators have been selected to participate in the next phase of the sale process. The Ministry, together with its advisors, is now in contact with the qualifying telecom operators that will be invited to submit first round technical and financial proposals for a 25% stake in OmantelOmantel. This includes prominent European, Asian and regional telecom operators.
H.E. Darwish Ismail Al Bulushi, Secretary General of the Ministry of FinanceMinistry of Finance and Chairman of the Steering Committee overseeing the OmantelOmantel strategic partnership process, said: "The quality and number of expressions of interest received were very strong. The level of interest is testament to the quality of the Omani macro economic scene, the opportunity in the Omani telecoms market and of OmantelOmantel itself. The selected parties are being contacted and we now look forward to receiving the parties' first round proposals in the second half of September."
Further information on the sale process can be found on the Ministry of FinanceMinistry of Finance
's dedicated website www.mof-omantel.com.-Ends-
About Omantel
OmantelOmantel
is the incumbent telecommunications operator in the Sultanate of Oman and provides a full spectrum of telecom services, including fixed line, mobile and internet services. OmantelOmantel is the sole fixed line service provider in Oman, with 270,000 subscribers in 2007, and the market leader in mobile communications in the country, with 1.49m subscribers, representing a 60% market share, in 2007. OmantelOmantel has grown strongly between 2005-2007, with subscribers growing by 14% CAGR, revenues by 16% CAGR to US$950m, EBITDA by 21% CAGR to US$502m and Net Income by 29% CAGR to US$293m.OmantelOmantel underwent partial privatisation in 2005 when it was listed on the Muscat Securities Market. The Government currently retains a 70% stake with the remaining 30% publicly listed.
Further information regarding OmantelOmantel can be found on the company's websites (www.omantel.net.om and www.omanmobile.om).
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Loading ...
Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.