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Omantel says going ahead with sale of controlling stake in WorldCall Telecom

Oman Telecommunications Co (Omantel) is going ahead with a plan to promote its controlling stake in Pakistan’s WorldCall Telecom, the Omani operator’s leader government Talal al-Mamari advised Reuters on Tuesday.

Omantel took a 56.eight consistent with cent stake in the varied operator in 2008. The $193 million deal used to be its largest overseas funding on the time.

The Omani company “has permitted the be offering we won to promote our stocks in WorldCall. However the deal continues to be in the method of pleasurable other necessities,” Mamari stated with out elaborating.

In September, WorldCall advised the Pakistan Inventory Change that it intends to shop for again its stocks from Omantel.

It didn’t divulge a value; its percentage worth ultimate closed at Rs2.81 in the Pakistani marketplace, down from round Rs17 in February 2008, when Omantel’s acquisition used to be introduced.

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