Qatar’s Qtel to ink partnership deal with QIA

12 Dec 2010

(MENAFN) Sheikh Abdullah bin Mohammed bin Saud Al-Thani, Chairman of Qatar Telecommunications (Qtel) plans to sign a partnership deal with Qatar Investment Authority (QIA), the country�s sovereign wealth fund, Reuters reported.

Under the agreement, a joint company will be established, in order to invest and seize appropriate opportunities in telecommunications and information technology sectors abroad, explained Sheikh Abdullah.

Qtel, which operates in 17 countries, was 55 percent owned by the ruler of Qatar, but lost its monopoly in 2007 after Vodafone Qatar, a unit of Britain’s Vodafone, entered the Qatari market, he revealed.

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