Oman Telecommunications Company (OTEL), or Omantel, is the largest telecom service provider in Oman, covering over 90% of the populated areas and serving more than 2.3 million subscribers. The stock trades on the Muscat Security Market. Despite strong competition in the Omani telecom market, analysts are optimistic about Omantel as the demand for value-added services will drive growth. Further, broadband and related services are likely to witness strong growth. To capture a market share in this segment, the company is offering a suite of products and services targeting both retail and corporate consumers. Omantel has pioneered the launch of innovative services such as mobile TV and multi-player mobile gaming, in the domestic market. Notwithstanding its recent entry in the 3.5G space, the company is targeting to install around 900 base stations by the end of this year. Furthermore, the company has demonstrated its 4G network, supported by Long Term Evolution technology. Omantel is among the first few telecoms in the world to introduce this network. Analysts foresee the company experiencing strong growth in subscriber base as well as average revenue per user in the VAS segment, supported by its aggressive expansion plans, relatively low broadband penetration and the projected uptake of VAS. The company's stock is trading at a price-to-earnings multiple of 7.1 to 7.2 times on estimated 2011 earnings.