Omantel says no more buyouts this year
Muscat, March 12, 2008
Oman Telecommunications Company (Omantel) has ruled out further acquisitions this year after agreeing last month to buy Pakistan's Worldcall Telecom for $193 million.
Omantel Chief Executive Officer Mohammed Al Wohaibi said the company would instead consider acquisitions or bidding for licences early next year in the Middle East, North Africa and South Asia.
"We have no plans for expansion," Wohaibi said in an interview in Muscat. "We will instead focus on the restructuring of the management to be more customer oriented."-Reuters