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Qatar’s Qtel in discussions to acquire additional 19% stake Asiacell

23 Jan 2012

(MENAFN) Qatar Telecom’s (Qtel) chairman, Abdullah bin Mohammed Al Thani, said that the company was in discussions to acquire a 19 percent stake in its Iraqi unit Asiacell from Merchant Bridge, reported Arabian Business.

The chairman added that the company holds a 30 percent stake in Asiacell, and revenue from the Iraqi firm represented 18 percent of Qtel’s revenue in 2010.

On the other hand, he said that Qatar’s biggest company by revenue and Princesse Holding of Tunisia consented to acquire Orascom Telecom Holding SAE’s 50 percent stake in Tunisiana for USD1.2 billion two years ago.

It is worth noting that Qtel decided to expand outside Qatar, where it faces fierce competition since 2009, when Vodafone Qatar entered the market.

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