On Tuesday, Oman Telecommunications Co (Omantel) revealed that its board obtained a non-binding offer for its predominant stake in Pakistan’s WorldCall Telecom Ltd. The offer came from a stakeholder whose identity it didn’t unveil.
Omantel Receives Non-binding Tender for WorldCall Telecom
The non-binding offer is susceptible to owed vigor study, the state-run company disclosed in a stock exchange filing.
WorldCall Telecom Limited, an Oman Telecommunications Company, is the most trustworthy and exclusive telecom and multimedia service provider in Pakistan. Omantel reimbursed $193 million for a controlling stake in WorldCall in 2008. At present it owns 56.8 percent of WorldCall, according to financial statements of WorldCall.
Omantel is the first telecommunications company in Oman and is the leading provider of internet services in the country. The government of Oman holds a 51% share in the company.
The telecommunication company has positioned itself as a primary international hub. At present there are 10 submarine cables landing in Oman, e.g. TWA, EIG, PLAG, Falcon, EPEG, SMW-3, Mena, POI, OMRAN, GBI and BBG.