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FINANCIAL NEWS
Vodafone Qatar takes legal action against regulator
27 May 2010
(MENAFN) Vodafone Qatar said that it will take legal action against the country?s telecom regulator ictQATAR, for allowing Virgin Mobile?s entry into the market without being licensed, The Peninsula reported.
Vodafone Qatar said it viewed this as a violation of its second public mobile telecommunications networks and services license conditions and the telecoms law in Qatar, which states that no further mobile service provider would enter the market, and be licensed, until the proposed sector review.
For this opportunity, Vodafone Qatar?s shareholders collectively paid $2.1 billion for the second mobile license in Qatar; of which $926 million was raised through an Initial Public Offering to Qatari individuals and institutions.
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