Oman Telecommunications SAOG (OTEL)

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News

1 April 2017 05:01 PM Omantel to distribute dividends at 70%

Mubasher: The general assembly of Oman Telecommunications Company (Omantel) has approved the board’s recommendation to distribute cash dividends at 70 baisas per share, Oman News Agency (ONA) reported. The dividends will represent 70% of the …

Cash Dividends

12 March 2017 02:49 PM Omantel writes off all its shares in WTL

Mubasher: Oman Telecommunications Company (Omantel) on Sunday said it has written off all of its investments in Pakistani company WorldCall Telecom Limited (WTL).  The company declared that the financial impact of this step was included in the …

Companies Investments

26 February 2017 08:57 AM Omantel OGM to discuss 70 baisa/shr dividends 30 March

Mubasher: Oman Telecommunications (Omantel) said Sunday that its ordinary general meeting (OGM) will be held on 30 March to discuss a proposal to distribute cash dividends of 70 baisa per share for fiscal year 2016. The dividends account for 70% …

General Assembly

16 January 2017 06:58 AM Omantel swings to profits in Q4

Mubasher: Oman Telecommunications (Omantel) turned profitable in the fourth quarter of 2016, according to a bourse statement. Profits stood at OMR 21.6 million ($56.1 million) in Q4-16, against losses of OMR 42.2 million ($109.6 million) in Q4-15. …

Financial Results

15 December 2016 07:06 AM Oman’s finance ministry transfers stake in Omantel to OIF

Mubasher: Oman Telecommunications (Omantel) announced on Thursday that the ministry of finance transferred its shares in the company to the Oman Investment Fund (OIF), according to a bourse filing. The OIF owns about 5.3% in Omantel, while the …

Mergers and Acquisitions

21 November 2016 04:31 PM Omantel, HCL Infosystems ink MoU

Mubasher: Omantel signed a Memorandum of Understanding (MoU) with HCL Infosystems, an Indian ICT services and solutions provider, according to a press release. According to the MoU, HCL will deliver Internet of Things (IoT), Machine to Machine …

International Agreements

21 November 2016 07:12 AM Omantel nods for buying offer for Worldcall Telecom

Mubasher: Oman Telecommunications (Omantel) has accepted a purchasing offer from WorldCall Services Limited and Ferret Consulting to acquire Omantel ordinary and convertible preference shares in Pakistan-based Worldcall Telecom Limited (WLT), …

Mergers and Acquisitions

17 November 2016 09:56 AM Omani telecom sector’s profits up 3.54% in Q3

By: Islam Fadl Mubasher: The financial statements of the two telecom companies listed on Muscat Securities Market (MSM) reported a growth of 3.54% during the third quarter of 2016 as compared to the same period a year ago. Earnings of both Omantel …

Financial Results

13 October 2016 06:36 AM Omantel posts lower Q3 profits

Mubasher: Oman Telecommunications said Thursday that its profits for the third quarter of 2016 declined 3.7% year-on-year to OMR 288.3 million ($73.25 million) from OMR 29.4 million ($76.09 million), according to a bourse filing. Over the first …

Financial Results

6 September 2016 11:59 AM Omantel receives new buying offer for Worldcall Telecom

Mubasher: Oman Telecommunications Company (Omantel) said Tuesday that it has received a new non-bending offer from Pakistan’s WorldCall Services Limited to buy its shares in Worldcall Telecom Limited Company in Pakistan. The company said that the …

Companies Investments

4 August 2016 00:55 PM Omantel ends negotiations over selling stake in Worldcall Telecom

Mubasher: Oman Telecommunication Company (Omantel) said Thursday that its board of directors decided to end negotiations with a Pakistani investor over selling its stake in Pakistan’s Worldcall Telecom Limited. Omantel owns a stake of 57% in …

Companies Investments

13 July 2016 01:53 PM Omantel posts 20% growth in Q2 profits

Mubasher: Oman Telecommunications Company (Omantel) reported a 19.9% rise in its second-quarter profits, according to a bourse statement. Profits stood at OMR 32 million ($82.54 million) in Q2-16, compared to OMR 26.7 million ($82.54 million) in …

Financial Results

28 June 2016 06:39 AM Omantel gets offer for stake in Pakistani firm

Mubasher: Oman Telecommunications Company’s (Omantel) said its board received a non-binding offer from a Pakistani investor to acquire its sharers in Worldcall Telecom Limited. The offer is subject to due diligence study, according to a bourse …

Companies Investments

18 May 2016 01:06 PM Moody’s downgrades rating of Omantel to Baa1

Mubasher: Moody’s Investors Service downgraded the credit rating of Oman Telecommunications Company (Omantel) to Baa1 from A3, with a stable outlook. According to Moody’s report, the rating follows the downgrade of the Government of Oman's …

Stock Evaluations

14 April 2016 10:30 AM Omantel’s Q1 profits reach OMR 34.8m

Mubasher: Oman Telecommunications Company’s (Omantel) profits rose in the first quarter of the fiscal year 2016 by 0.6% year-on-year. Net profit amounted to OMR 34.8 million ($90.64 million) in Q1-16, versus OMR 34.6 million ($90.12 million) in …

Financial Results

27 March 2016 11:59 AM Omantel’s shareholders OK 60% cash dividends

Mubasher: Oman Telecommunications Company (Omantel) announced on Sunday that its ordinary general meeting (OGM) approved cash dividends at 60% of the capital (60 Baisas per share) for the fiscal year 2015. The OGM earlier agreed on distributing …

General Assembly

6 March 2016 00:47 PM Omantel’s shareholders to discuss 60% cash dividends 24 March

Mubasher: Oman Telecommunications Company (Omantel) announced on Sunday that its ordinary general meeting (OGM) will be held on 24 March. The OGM will discuss paying cash dividends at 60% of the company’s capital or 60 Baisas per share, totalling …

Cash Dividends

23 February 2016 08:43 AM S&P cuts Omantel’s credit ratings to "BBB-/A-3"

Mubasher: Standard & Poor's Ratings (S&P) lowered its long- and short-term corporate credit ratings on Oman Telecommunications Co. (Omantel) to 'BBB-/A-3' from 'BBB/A-2', with “Stable” outlook, according to a recent report on Tuesday. Explaining …

Stock Evaluations

15 February 2016 10:04 AM NBK Capital upgrades Omantel to ‘Buy’

Mubasher: Watani Investment Company (NBK Capital), the investment arm of National Bank of Kuwait, on Sunday upgraded Oman Telecommunications Company (Omantel) to “Buy”, setting the fair value at OMR 1.82, as the share’s price fell 14%. Omantel …

Financial Results

15 February 2016 06:57 AM Omantel incurs OMR 35m losses in Q4

Mubasher: Oman Telecommunications Company (Omantel) posted losses of OMR 34.69 million in the fourth quarter of 2015, against profits of OMR 31.67 million in the same quarter of 2014, according to a bourse filing on Sunday. In the fiscal year …

Financial Results

10 February 2016 07:28 AM Omantel halts issuance of $82m certificates

Mubasher: Oman Telecommunications Company (Omantel) decided not to proceed with the proposed issuance of the certificates at the present time, according to a bourse filing on Wednesday. The preliminary prospectus dated 11 January - as updated …

Sukuk and Islamic Finance

2 February 2016 07:16 AM Omantel considers sukuk terms

Mubasher: Oman Telecommunications Company (Omantel) said that it is currently reviewing certain terms for sukuk issue, according to a bourse filing on Tuesday. The news media earlier unveiled the pricing details for the company’s OMR 18.7 million …

Sukuk and Islamic Finance

27 January 2016 03:07 PM Omantel prices $130m dual-currency sukuk issue

Mubasher: Oman Telecommunications Co (Omantel) has priced a $130 million five-year dual-currency sukuk issue; a document from lead arrangers showed according to Reuters. Omantel received commitments worth $82.16 million in the dollar tranche and …

Banking and Finance

12 January 2016 09:14 AM Omantel mandates 3 banks to arrange new sukuk issuance

Mubasher: Oman Telecommunications Company (Omantel) announced yesterday that it appointed Standard Chartered Bank as an exclusive advisor for structuring new sukuk, and mandated HSBC and the National Bank of Oman to manage discussions with …

Sukuk and Islamic Finance

12 January 2016 06:46 AM CMA No Objection Letter fo Sukuk Issuance

Omantel is pleased to announce that Capital Market Authority has provided a no objection for Omantel to issue Sukuk.  In this regard Omantel.  has mandated Standard Chartered Bank as Sole Structuring Advisor, and HSBC, National Bank of Oman …