Vodafone Group has announced that it has signed a strategic partnership agreement with Oman Future Telecommunications (OFT). With this, it becomes a part of the UK-based operator's Partner Markets programme.
The OFT consortium is led by Itqan Tech Development and had secured the Sultanate's third mobile network operator license in October 2017. The acquisition was preceded by the cancellation of the tender process.
Under the 15-year non-equity agreement, both Vodafone and OFT will work together to roll out a new mobile network. They will also develop a number of new services using the Vodafone brand in Oman.
The development of the new Vodafone branded network will start immediately with a commercial launch currently planned for the second half of 2020. Aside from Itqan Tech Development, the OFT consortium consists of pension funds, government investment funds and investors from the private sector according to Times of Oman.
Speaking about the partnership was Vodafone Partner Networks CEO Diego Massidda. He expressed his delight to start the strategic partnership with OFT and conveyed how he is looking forward to developing a new network operator in Oman and contribute to the country's digital economy. According to him, this partnership will build into a strong and lasting relationship that will benefit customers of both companies.