Oman Brunei Investment Company (OBIC) has acquired a majority stake in mobile virtual network operator (MVNO) Renna Mobile, reports the Times of Oman. In return, OBIC will inject capital in the mobile service provider to further its expansion plans. ‘We have finalised an investment agreement with OBIC to secure our growth plans in Oman and beyond,’ commented Renna Mobile CEO Joakim Klingefjord, adding: ‘We are honoured by the fact that OBIC scrutinised several other similar investment opportunities before they decided in our favour.’ Meanwhile, without stating the size of the stake OBIC has acquired, or how much it capital it will be injecting in Renna, OBIC CEO Abeer Mohammed Al Abduwani said: ‘In our thorough due diligence, we were impressed by Renna Mobile's operation, and how it has built a strong brand and healthy customer base, while maintaining a very prudent and cost conscious approach to its operations.
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