Emirates Telecommunications (Etisalat), which runs networks from Saudi Arabia to Pakistan, is planning to buy stake in Omantel.

Emirates Telecommunications (Etisalat), which runs networks from Saudi Arabia to Pakistan, is planning to buy stake in Omantel.

Etisalat has spent more than $6.5 billion on foreign acquisitions in the past three years and has shown interest in acquiring mobile phone licences in Kuwait and Qatar. According to London-based Middle East Economic Digest, the Oman government could sell as much as 19 per cent stake in Omantel immediately. The 19 per cent stake is estimated to be worth around $590 million.