Oman's Ministry of Finance has announced the results of the prequalification process with regards to the sale of a 25% stake in Omantel to a potential strategic partner. Following an in-depth evaluation of the submissions of expressions of interest, the Ministry of Finance has confirmed that eight (unnamed) 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 Omantel. This includes prominent European, Asian and regional telecom operators.
H.E. Darwish Ismail Al Bulushi, Secretary General of the Ministry of Finance and Chairman of the Steering Committee overseeing the Omantel 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 Omantel itself. The selected parties are being contacted and we now look forward to receiving the partiesÃ' first round proposals in the second half of September."
Omantel 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. Omantel 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. Omantel 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.
Posted to the site on 18th August 2008
Posted to: www.cellular-news.com/story/33092.php