Omantel going ahead with Pakistan WorldCall sale

DUBAI: Oman Telecomm­unications Co (Omantel) is proceeding with an arrangement to offer its controlling stake in Pakistan’s WorldCall Tele­com, the Omani administrator’s CEO Talal al-Mamari told Reuters on Tuesday.

Omantel took a 56.8 for each penny stake in the differentiated administrator in 2008. The $193 million arrangement was its greatest outside venture at the time.

The Omani firm “has acknowledged the offer we got to offer our shares in WorldCall. Be that as it may, the arrangement is still during the time spent satisfying distinctive prerequisites,” Mamari said without explaining.

In September, WorldCall told the Pakistan Stock Exchange that it plans to purchase back its shares from Omantel. It didn’t unveil a value; its share value last shut at Rs2.81 in the Pakistani market, down from around Rs17 in February 2008, when Omantel’s securing was declared.

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