The report valued the fair price of Omantel's share at RO2.011, which is 15% more than the last closing price of RO1.743.
In its recent report about Omantel in 2007, Teeb Bank recommended that the weight of the company's share in investors' portfolios be increased. This means that the performance of the share is better than the performance of the market in general.
The report expected that the company would achieve greater growth in its revenues through its exposure inside Oman and abroad, and in view of the fact that it holds the monopoly of fixed and mobile phone and Internet services in the Sultanate.
Teeb Bank said that the rate of mobile phone penetration is still low compared to other countries in the Gulf region, which would give Omantel an opportunity to expand its subscriber base.
Vision Securities Company has recently issued a report about Omantel in which it advised investors to keep the company's share.
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Teeb Bank of Bahrain values fair price of Omantel's share at RO2.011
- Oman: Wednesday, January 23 - 2008 at 10:16
- PRESS RELEASE
Teeb Bank of Bahrain issued a report about Oman Telecommunications Company (Omantel) the main operator of fixed and mobile communications in the Sultanate of Oman.
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Muna Nasser Al MamariOman Telecommunications Company
Information & Public Relation
Off. # +968 24528062
fax # +968 24528621
Posted by Lara Lynn Golden, News EditorWednesday, January 23 - 2008 at 10:16 UAE local time (GMT+4)
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