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Sun 17 Jan 2010 12:19 PM

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Omantel 30% stake bid may be revived this year

Oman may look for investor in telco this year if 'favourable', economy minister says.

Omantel 30% stake bid may be revived this year
TELCO STAKE: Oman may revive its plan to sell a 30-percent stake in (Omantel) this year. (Getty Images)

Oman may revive its plan to sell a 30-percent stake in Oman Telecommunications Co (Omantel) this year, the minister of national economy told Reuters on Sunday.Oman, which owns 70 percent of the telecoms carrier with the rest traded on the Muscat bourse, postponed plans to sell the stake in December 2008, citing weak global economic conditions.

"We are waiting for the global market to recover so we can start looking for a strategic investor again for Omantel," the minister, Ahmed Mekki, said.

"It may happen this year provided it is favourable to us."

Oman has said it would make any sale to a long-term investor and not to the public. (Reuters)

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