Qtel denies interest in Omantel stake

In an interesting turn of events, Qatar Telecom has denied comments made by an Omani finance ministry official who earlier stated that Qtel was one of the companies bidding for a 25 percent stake in Oman Telecommunications Company.

"Qtel has not expressed an interest in bidding for this stake,” the company has clarified through Reuters. "As the majority shareholder in Nawras, the second operator in Oman, Qtel is mindful of the Omani rules and regulations.”

Initial reports linking Qtel to one of the eight telecom operators that qualified to submit stake proposals featured in several regional newspapers, including Bahrain’s Gulf Daily and Qatar’s The Peninsula.

Oman is selling 25 percent of Omantel’s stake in the hope of strengthening its market position in the face of increasing competition in the telecommunications market.