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UGB, $157m from Wataniya sale
- Bahrain: Monday, March 05 - 2007 at 09:29
As part of the consortium of shareholders which this week sold 51% of the National Mobile Telecommunication Company, Wataniya, to Qatar Telecom, the United Gulf Bank has revealed it will receive a sum of $157m for its stake in the telco operator, plus its 9% holding in each of Wataniya's ventures in Iraq and Algeria. The transaction will generate a $96m profit for UGB, almost matching its profit for 2006.
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Jonathan Sheikh-Miller, Deputy EditorMonday, March 05 - 2007 at 09:29 UAE local time (GMT+4)
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This article was updated on Tue Mar 06 2007.
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