Home Industry Oman Telecom Regulator Fines Omantel $13m, Firm To Appeal The fine was imposed because of a nine-hour service interruption last year. by Reuters April 15, 2015 Oman Telecommunications said it would appeal against a $13 million fine imposed on the company by the industry regulator for a nine-hour service interruption last year. The group, also known as Omantel, will take the matter to arbitration, it said in statement to the stock exchange. The Telecommunications Regulatory Authority said it had fined Omantel OMR5 million ($12.99 million) after the company’s network went down for about nine hours last November. “The company failed in its commitment to take the steps required to guarantee the continuation of communications services,” the watchdog said in a statement. Omantel, which competes with Oooredoo Oman, made a net profit of OMR122.4 million in 2014, up slightly on a year earlier. Omantel’s shares ended 1.2 per cent lower, underperforming Muscat’s main index, which slipped 0.2 per cent. 0 Comments
