Brunei invests in Omani mobile operator

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Renna Mobile CEO Joakim Klingefjord

The Oman Brunei Investment Company, a private equity firm co-funded by the Brunei Investment Agency, has bought a majority share of Renna Mobile, an Oman-based mobile phone network operator.

The company said in a release that it got a capital injection from Oman Brunei Investment Company to fund its expansion plans “in Oman and beyond.”

Renna Mobile is a Mobile Virtual Network Operator (MVNO) that resells mobile capacity from existing providers. It launched its operation in Oman in May 2009 after having secured an MVNO agreement with Omantel and a license from Oman’s Telecommunications Regulatory Authority.

According to Renna Mobile CEO Joakim Klingefjord, the company “quickly positioned itself firmly in the Omani market with a strong brand a healthy costumer base.”

Oman Brunei Investment Company is a private equity fund 50:50 capitalised by the Brunei Investment Agency and the Omani Ministry of Finance at a capital of $ 100 million. The fund company has been created “to promote social, financial and economic benefits to Oman, GCC and Brunei” and undertakes investments in infrastructure, utilities, metals, education, service, healthcare and manufacturing.

“The objective of Oman Brunei Investment Company is to become a leading private equity investor in the region, by investing in a diversified range of companies,” said Oman Brunei Investment Company’s Chief Executive Officer Abeer Mohammed Al Abduwani.

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Reading Time: 1 minute

Renna Mobile CEO Joakim Klingefjord

The Oman Brunei Investment Company, a private equity firm co-funded by the Brunei Investment Agency, has bought a majority share of Renna Mobile, an Oman-based mobile phone network operator.

Reading Time: 1 minute

Renna Mobile CEO Joakim Klingefjord

The Oman Brunei Investment Company, a private equity firm co-funded by the Brunei Investment Agency, has bought a majority share of Renna Mobile, an Oman-based mobile phone network operator.

The company said in a release that it got a capital injection from Oman Brunei Investment Company to fund its expansion plans “in Oman and beyond.”

Renna Mobile is a Mobile Virtual Network Operator (MVNO) that resells mobile capacity from existing providers. It launched its operation in Oman in May 2009 after having secured an MVNO agreement with Omantel and a license from Oman’s Telecommunications Regulatory Authority.

According to Renna Mobile CEO Joakim Klingefjord, the company “quickly positioned itself firmly in the Omani market with a strong brand a healthy costumer base.”

Oman Brunei Investment Company is a private equity fund 50:50 capitalised by the Brunei Investment Agency and the Omani Ministry of Finance at a capital of $ 100 million. The fund company has been created “to promote social, financial and economic benefits to Oman, GCC and Brunei” and undertakes investments in infrastructure, utilities, metals, education, service, healthcare and manufacturing.

“The objective of Oman Brunei Investment Company is to become a leading private equity investor in the region, by investing in a diversified range of companies,” said Oman Brunei Investment Company’s Chief Executive Officer Abeer Mohammed Al Abduwani.

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