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Wireless Federation » Omantel buys stake in Worldcall (Oman)

Omantel buys stake in Worldcall (Oman)

  • February 19th, 2008
  • 2:11 pm

Omantel has finalised an agreement to buy control of Pakistani operator Worldcall Telecom. The company will acquire 60 percent of Worldcall from its shareholders plus a 5 percent stake from the Pakistan Securities Market. The transaction will include 70.65 percent of Worldcall’s subsidiary operations in Sri Lanka. The total consideration for the takeover is USD 193 million. Omantel intends to fund the acquisition through long-term debt. Worldcall offers voice and internet services in Pakistan, via metro fibre, hybrid fibre coaxial and wireless local loop.

   


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