Oman Brunei Investment Company (OBIC) has acquired a majority stake in Renna Mobile – an Oman-based mobile virtual network operator (MVNO). The investment has been earmarked to fund Renna Mobile’s plans to expand its operations both within the country and in the neighbouring regions. OBIC is a joint venture (JV) between the Brunei government and the Sultanate of Oman: the two governments signed a deal to create an investment fund of $100 million in April 2009. Renna Mobile launched its operations in Oman in May 2009, after securing an MVNO agreement with Omantel and a licence from Oman’s telecommunications regulatory authority.
