Oman Telecommunications SAOG (Omantel) News - Mubasher Info
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02 October 08:45 AM

Oman Telecommunications SAOG (OTEL)

Last update: 1 October 01:55 PM market time.
1.08
-0.01
-0.92%
Open 1.08
Previous Close 1.08
High 1.08
Low 1.07
Stock Statistics
Volume 3,417,820
Turnover 3,676,624.79
All data are 15 minutes late during market session

News

Photo Gallery
21 August 06:03 PM e&, GCC telcos units launch 1st regional Sustainability Hackathon
Mubasher: Emirates Telecommunications Group (e&) and the GCC’s leading telecom operators have launched the region’s first Sustainability Hackathon, according to a press release. The initiative aims to accelerate green technology adoption and …
Global Economy
Photo Archive
10 December 2023 04:47 PM Saudi stc leads innovation hub project with GCC Telco Alliance; listed firms included
Riyadh – Mubasher: Saudi Telecom Company (stc) has announced the Sustainability Innovation Hub as part of its collaboration with GCC Telco Alliance members, which include leading telecom operators from Saudi Arabia, the UAE, Bahrain, Oman, and …
Companies Investments
The company's revenues decreased by 1.81%
5 November 2020 01:32 PM Omantel's net profits down 12% in 9M
Mubasher: Oman Telecommunications (Omantel) reported an 11.95% decline in its net profits attributable to the shareholders to OMR 46.4 million ($120.13 million) during the first nine months of 2020 from OMR 52.7 million ($136.44 million) in the …
Financial Results
Abdulsalam Al Murshedi was appointed as the new chairman
9 June 2019 10:35 AM Omantel names new chairman
Mubasher: Oman Telecommunications (Omantel) on Sunday announced the appointment of a new chairman. Abdulsalam bin Mohammed Al Murshedi was named as the new chairman, succeeding Sultan bin Hamdoon Al Harithi, the telecom firm said in a statement to …
Company News
Omantel has recorded revenues of OMR 2.186 billion in 2018
31 March 2019 10:09 AM Omantel OKs OMR0.50/shre dividend for FY18
Mubasher: Oman Telecommunications’s (Omantel) ordinary general meeting (OGM) has approved to a cash dividend distribution of OMR 0.50 per share for 2018, accounting for 50% of the company’s capital, the company’s deputy chairman said. Omantel has …
Cash Dividends
Etisalat was named the most valuable telecoms brand in the region
7 March 2019 02:53 PM 8 GCC telecom firms among top valuable brands in 2019
By: Mahmoud Gamal Abu Dhabi – Mubasher: Eight GCC telecommunications companies ranked among the world’s 300 top valuable telecoms operator brands in 2019, according to a recent study by Brand Finance. The UAE telecom operator Emirates …
Macroeconomics
Revenues leapt 190.81% to OMR 2.186 billion
17 February 2019 03:10 PM Omantel’s profits jump 109% in 2018
Mubasher: Oman Telecommunications (Omantel) posted 109.32% profit hike in 2018, according to the company's first annual financial results after its merger with Kuwait’s Mobile Telecommunications (Zain). The Muscat-listed firm said its profits …
Financial Results
The loan agreement has a repayment period up to five years
29 August 2018 03:54 PM Zain inks $700m revolving loan
Mubasher: Mobile Telecommunications (Zain) announced that it has signed an agreement to refinance revolving credit facilities valued at $700 million. Signed with a consortium of regional and international banks, the loan agreement has a repayment …
Companies Investments
13 November 2017 03:29 PM Omantel gets majority of Zain’s board seats
Mubasher: Oman Telecommunications (Omantel) has nominated four new members for the board of directors of Mobile Telecommunications (Zain). The CEO of Omantel, Talal Al Moaamary, was appointed as a non-executive member in Zain’s board of directors, …
Board of Directors
Omantel is now the second largest shareholder in Zain Group
13 November 2017 01:24 AM Omantel raises stake in Zain to 22%
Mubasher: Oman Telecommunications (Omantel) has won an auction for 12.1% stake in Zain, thus becoming the second largest shareholder in Zain Group with a 21.9% stake, after the Kuwait Investment Authority, which owns a 24.60% stake. The total …
Mergers and Acquisitions
An agreement was reached between the parties involved in this auction
12 November 2017 09:51 AM Zain to offer 12% stake for sale in auction
Mubasher: Boursa Kuwait announced that an auction will be held on Sunday, 12 November, to offer 521.98 million of Mobile Telecommunications’ (Zain) shares for sale. This volume represents 12.063% of Zain’s capital at a premium price of 781 fils, …
Company News
Al Khair to sell stake in Zain to Omantel
26 October 2017 10:54 AM Al Khair to sell stake in Zain to Omantel
Kuwait – Mubasher: Mobile Telecommunications (Zain) said that Al Khair National for Stocks and Real Estate Company has signed an agreement to sell its stake in Zain to Oman Telecommunications (Omantel). The deal has been signed on Thursday, 26 …
Mergers and Acquisitions
Omantel profits fell 33% in Q3
15 October 2017 10:47 AM Omantel profits fall 33% in Q3
Mubasher: The preliminary unaudited financial statements of Oman Telecommunications (Omantel) on Sunday showed a 32.51% year-on-year drop in profits for the third quarter of 2017. The telecom firm achieved profits of OMR 19.1 million ($49.42 …
Financial Results
Al Khair, Omantel inks LOL to acquire 12% in ZAIN
9 October 2017 10:04 AM Al Khair, Omantel inks LOL to acquire 12% in ZAIN
Kuwait – Mubasher: Mobile Telecommunications (ZAIN) posted that Al Khair National for Stocks and Real Estate Company has signed a non-binding letter of intent (LOL) on Sunday with Oman Telecommunications SAOG (Omantel). As per this LOL, Omantel …
Companies Investments
Photo Archive
27 August 2017 08:13 PM Liquidity to reach $1.15bn after Omantel deal - Zain CEO
Riyadh - Mubasher: The deputy chairman and CEO of the Saudi Mobile Telecommunications Company (Zain), Badr Al Kharafi said that Omantel’s acquisition deal 0will raise the company’s liquidity from $512 million to $1.15 billion. Al Kharafi added in …
Mergers and Acquisitions
This sale transaction will raise cash liquidity and total assets by KWD 255.4 million each
27 August 2017 11:44 AM Zain retained earnings to fall KWD 310m on Omantel deal
Mubasher: Mobile Telecommunications (Zain) clarified that closing the auction held for selling treasury shares to Oman Telecommunications (Omantel) will reduce the retained earnings by KWD 310.4 million. This sale transaction will raise cash …
Companies Investments
The stocks were purchased at 600 fils per share
24 August 2017 03:54 PM Omantel buys Zain treasury stocks at $846m
Mubasher: Oman Telecommunications (Omantel) on Thursday announced that it bought 425.71 million of Mobile Telecommunications’ (Zain) treasury stocks, which represent 9.838% of Zain’s capital. The stocks were purchased at 600 fils per share, …
Mergers and Acquisitions
The loan would later be substituted by a long-term loan or other financing tools
23 August 2017 00:54 PM Omantel funds Zain acquisition through bridging loan
Mubasher: Oman Telecommunications (Omantel) on Wednesday announced that it plans to fund its acquisition of shares from Mobile Telecommunications (Zain) through a bridging loan, if the former wins the treasury shares auction to be held on 24 …
Mergers and Acquisitions
The acquisition will help the Omani telecom operator company to lower operating costs through synergies
16 August 2017 11:35 AM Omantel purchase of Zain stake considered credit positive - Moody's
Kuwait – Mubasher: Oman Telecommunications Co’s (Omantel) acquisition of a minority stake in Kuwait-based Mobile Telecommunications Co (Zain Group) is credit positive, according to Moody’s Investors Service. The acquisition will help the Omani …
Ratings
This stake accounts for 9.84% of Zain’s issued and paid-up capital
10 August 2017 01:46 PM Omantel buys KWD 255m stake in Zain
Mubasher: Mobile Telecommunications Company (Zain) has signed an agreement to sell 425.71 million treasury shares to Oman Telecommunications (Omantel) for a total value of KWD 255 million ($845 million) or 600 fils per share. This stake accounts …
Company News
In the first half of 2017, Omantel’s profits declined 38.92% to OMR 40.8 million
16 July 2017 00:55 PM Omantel Q2 profits plummet 47%
Mubasher: Oman Telecommunications (Omantel) reported a 46.88% drop in profits in the second quarter of 2017 compared to figures from the corresponding period of 2016. The telecommunications company achieved profits of about OMR 17 million ($43.97 …
Financial Results
The estimated OMR 275 million ($714 million) mall will feature services including fixed voice and data services, and mobile voice and high speed broadband connectivity
19 June 2017 00:44 PM Majid Al Futtaim inks partnership deal with Omantel
Dubai – Mubasher: Majid Al Futtaim signed an agreement with Omantel to build an onsite, leading-edge voice and data network to support the Mall of Oman, which is under construction in the sultanate, according to a statement. The mall has an …
Companies Investments
(Photo Credit: Company website)
30 April 2017 00:00 PM Oman Investment Fund transfers stake in Omantel
Mubasher: Oman Telecommunications Company (Omantel) on Sunday said it received a letter from the Oman Investment Fund (OIF) notifying it that the fund has transferred its 51% stake in the company to United International Telecommunication …
Management Decisions
(Photo Credit: Arabianeye-Reuters)
19 April 2017 10:17 AM Omantel’s stock drops to 59M low
Mubasher: Oman Telecommunications’ (Omantel) stock fell 1.53% mid-trades on Wednesday to OMR 1.288, its lowest level in 59 months or since 22 May 2012. On Sunday, Omantel reported a 31.6% slide in its profits to OMR 23.8 million in the first …
Trading Activities
(Photo Credit: Company website)
16 April 2017 08:56 AM Omantel profits down 32% in Q1
Mubasher: Oman Telecommunications Company (Omantel) on Sunday reported a 31.6% decline in its net profits for the first quarter of 2017, compared to the same period of 2016. Net profits amounted to OMR 23.8 million ($61.65 million) in Q1-17, …
Financial Results