Omantel acquires 65 % stake in WorldCall Pakistan

Press Release - 19 April, 2008

Omantel, which was eagerly eying Pakistan's telecom industry last year, has finally acquired 65 percent shares of WorldCall Telecom Limited for USD 200 million. Omantel has now 488.8 million (65 percent) shares of Worldcall. Ambassador of Sultanate of Oman, HE Mr Mohammad Bin Said Bin Mohamed Al-Lawati, who was also present at the deal signing ceremony, congratulated both companies on signing the deal. For Omantel, it is the first overseas venture; it is a publicly traded telecom company based in Oman.

Source : IT Insight