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FINANCIAL NEWS
Qtel to acquire Tunisiana stake for $1.2b
22 Nov 2010
(MENAFN) Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, Chairman of Qtel Group announced that a consortium led by the telecom company, has acquired Orascom Telecom’s stake in Tunisiana for $1.2 billion, Reuters reported.
According to Sheikh Abdullah, Qtel viewed the acquisition as a means of developing and expanding the company, explaining that increasing ownership in well-performing assets with further growth potential, would lead to the desired outcome.
The Qtel-Orascom deal is expected to be finalized with the Tunisian authorities and then closed in January of the upcoming year, said the Chairman.
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