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Wed 15 Apr 2015 10:32 AM

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Omantel fined $13m by telecom regulator

Former monopoly disputes the fine and will take the matter to arbitration

Omantel fined $13m by telecom regulator

Oman's telecommunications regulator has fined Omantel 5 million Omani rials ($12.99 million), but the company will appeal, the former monopoly said in a bourse statement on Wednesday.

Omantel did not reveal the Telecommunications Regulatory Authority's reason for imposing the fine.

The company has disputed the fine and will take the matter to arbitration, it added.

Omantel, which competes with Oooredoo Oman, made a net profit of 122.4 million rials in 2014, up slightly on a year earlier.

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