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Qtel buys Liberty stake
- Qatar: Thursday, August 13 - 2009 at 12:05
Qatar Telecom (Qtel) has said it has acquired 32% of Philippines-based Liberty Telecommunications for $29m, Reuters has reported. The acquisition was made in partnership with Philippine diversifying food and beverage giant San Miguel. The deal is in line with the partnership agreement signed between San Miguel and Qtel in December 2008, which aims to look into opportunities in the wireless broadband and mobile businesses in the Philippines. Ramon Ang, chairman of Liberty and president of San Miguel, had said that Qatar Telecom was the buyer of two blocks of Liberty shares worth $29m in the stock market on August 10.
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StaffThursday, August 13 - 2009 at 12:05 UAE local time (GMT+4)
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