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Qatar raises Asiacell stake to 64%
- Qatar: Wednesday, February 06 - 2013 at 05:49
Qtel has raised its stake in Asiacell to 64.1%, taking advantage of Iraqi unit's $1.27bn share sale, in what analysts said was a vote of confidence in a country recovering from years of war and economic sanctions, Reuters has reported. Some 70% of the public offer went to foreign investors, including Qtel. The Qatari telecoms operator agreed in June to pay $1.5bn to double its holding in Asiacell to 60%, as part of a broader strategy to tighten its control over its foreign units, which span the Middle East, Asia and Africa. Part of that deal, a 6.1% stake, was subject to regulatory approval, which Qtel has now received, it said.
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