Oman's sale of 19 pct of Omantel to start next week -ONA
DUBAI Feb 20 (Reuters) - Oman will begin the sale of a 19 percent stake in its former telecommunications monopoly Omantel next week, according to a report on state news agency ONA, which quoted a government official.
The government will offload 142.5 million Omantel shares, reducing its holding to 51 percent from 70 percent, said Saud bin Nasser al-Shukaily, Secretary-General for Taxation at the Ministry of Finance.
Half of these shares will be sold in a first phase starting next week. The minimum order will be 2 million shares and the phase is open to Omani individuals and institutional investors, the report said.
A second and final phase to sell the remaining shares will be open to Omani retail investors and will start at the end of March, it added.
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