Qtel announces strategic investment with AT&T in NavLink

Qtel will hold an equity stake (38.2%) in the business, joining AT&T Inc.

This investment will allow Qtel to strengthen its existing strategic relationships with AT&T and NavLink such as the recently announced world-class data centre in Doha that hosts the first Middle Eastern node of AT&T's global network.

Dr Nasser, CEO at Qtel said,

"This deal is a major step-forward in our strategy to become a significant player in the region's Enterprise Data Market and to provide our customers with true world-class network solutions. Working in partnership with AT&T and NavLink means we can provide our corporate customers here in the Middle East with advanced business solutions and at the same time deliver unparalleled reach out into the global market through AT&T's global network."

This investment is seen as a cornerstone in Qtel's plans to provide state-of-the-art wide area network, managed hosting and disaster recovery services to corporate customers. It will allow Qtel to establish a presence and enhance its business-to-business throughout the Middle East.

NavLink currently provides services directly to a strong customer base in 17 countries throughout Europe, the Middle East and Africa and globally through AT&T's global private data network and AT&T's global network of data centers.

Commenting on the agreement for AT&T, Geoff Webster, Vice president for Strategy and Business Development said, "We welcome this investment in NavLink by such a strong regional player as Qtel. The Middle East is an important market for AT&T, and we have identified it as one of great growth potential. We believe this new investment strengthens our ability to serve multinational customers in the region."

Commenting on the investment, George Chammas, NavLink's Co-President & CFO said, "Qtel's strategic investment is a major and very exciting phase in our business. It will enable NavLink to accelerate our plan to deploy the AT&T global network in the Middle East and North Africa. We are delighted to work with such strong telecoms players. We feel that NavLink complements Qtel's core capabilities with new and enhanced services that help Qtel move away from being a pure product provider into the telecommunications services business."

Dr Nasser concluded, "We looked at a number of options of possible partners in helping us move deeper into the Enterprise Data market but the synergies between Qtel, AT&T and NavLink were very strong and compelling. The deal offers us an immediate entry platform into key MENA markets and a source of new revenue streams."